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Education
It is not a routine occurrence for the IRS to request proof that the 529 distribution was used on qualified expenses, and when the 1099-Q is entered with corresponding expenses nothing is actually transmitted with the return.
Therefore, you're no more likely to hear from the IRS by not including it than if you did. However, it's always possible that the IRS may request support for the use of the funds.
Keep your documentation with your other tax documents for the year so you'll be ready on the off-chance they do ask, and maintain those records for at least three years.
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‎February 29, 2024
7:00 PM
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