Thanks for the response. Here are the specifics in my case:
College beneficiary is claimed as a dependent on parents tax return
1099-Q
1. came in beneficiaries name as it was sent directly to school from 529 plan. From what you replied before, this needs to be filed on beneficiary tax return?
Box 1- 28328 - This seems to include a distribution that is for spring 2021 costs. 2020 expenses would be half of this.
Box 2 - 2120.73
Box 3 26207.27
If this is placed on beneficiary tax filing what will be tax impact? Is the Box 1 distribution considered income? And since it includes charges for 2021 put paid in 2020 can these be reduced/
1098-T
1. Came in students name. This should be filed on parent return?
1098-T from first school
Box 1 1295.23
Box 4 - 164.23
1098-T from Grad school
Box 1 - 14019
There are no scholarship's.
Other expenses
Books -579.57
are theseclaimed by parent or student
