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Education
Hi, I entered $12,000.00 in room and board line item, however, my Federal Taxes did not go down. Please understand YES I did use a 529 distribution (recorded on 1099-Q( to pay for these expenses, which I thought allowed for a deduction. Reference Turbo Tax: The one exception is if room and board was paid for with a Coverdell ESA or 529 plan distribution. In that case, the cost can be deducted from the taxable portion of the distribution.
‎February 7, 2022
8:05 AM