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Education
Thanks. I will review in greater detail, but let me ask this follow-up.
Students at service academies still incur expenses that would be qualified expenses for 529 purposes, like books, uniforms, and computers. Are these expenses entered in a dialogue or directly on the worksheet? I am looking at the 2020 worksheet called "Payments from Qualified Education Programs (Under Sections 529 and 530)." Under the section called "Qualified Tuition Program (QTP) Computation of Taxable Distribution," I see that line 2.c. provides for "Adjusted Qualified education expenses attributable to this QTP." Should I override this line ($0) with the amounts I withdrew to cover the computer, uniforms, books, etc.?
‎February 15, 2021
4:12 PM