I have read through all of the messages, and still confused. I am hoping the simple answer here is correct and that I don't have to include the 1099Q or 1099T. I would like some confirmation if possible.
My daughter is my dependent but files her tax return as she had too much income in 2021.
All of her college tuition was paid from a 529 plan.
She received at 1099T and a 1099Q, both basically with the same number (=Tuition Expense)
If we do have to add this to our returns I have a few questions:
1. Who puts which form on their tax return. 1099T on Parents and 1099Q on Dependent?
2. We are not looking for the education credit, just want to report properly so they cancel out and there are no taxes on the 529 payment. Is it possible for this to create a tax liability for my daughter or me? We have been doing this for 4 years and never ran into this in Turbotax (perhaps because she is filing her own return?)
Thank you.
