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529 Distribution - Match to Scholarship
I have a 529 Arizona account set up for my son. He received a full Tuition scholarship to Northern Arizona University . I understand that a withdrawal matching the amount of the annual Scholarship award, may be made, and only the earnings would be taxable. I'm using Turbotax Deluxe , however I am unable to find a way to disclose this transaction. Turbotax is only allowing me to specify, either All of Distribution was for educational expense ... OR ... None, at which point the entire amount is deemed taxable . HOW DO I ENTER THIS TRANSACTION IN TURBOTAX (e.g. to reflect that it was a Match to Scholarship distribution)?
‎April 23, 2021
12:23 PM