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We got a refund for room/board in 03/2020 that was paid with the 529 distribution in 2019. We don't have 529 distribution in 2020. How do I report this refund?
My daughter graduated in May 2020, so there is no other qualified expenses cover the refund. By the time I realized the tax issue, it was too late to recontribute back. I know the earning is taxable and there is a 10% penalty. Moreover, I know which lines to enter on 1040 for the earning and penality. But how can I do it in TurboTax?
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March 8, 2021
4:56 PM