ok so basically if I had 15K in tuition and a 529K of $10K, I dont need to report the 529K even though I don't actually qualify for any college deductions or credits (because the Feds say my income is too high). I can just keep the 529K along with the 1098 T I received for my records and report nothing on taxes. Correct?
We did use the 529K distribution to pay the tuition but I also qualify for no credits or expenses deductions because the income threshold is higher than allowed by maybe $10K
I just want to be sure excluding this is ok because right now if I include the 1098-qt, turbo tax is adding about $1045 of the distributed amount as taxable income
