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Education
Form 1099-Q doesn't need to be reported on your daughter's tax return as long as the distribution was used for qualifying expenses, which includes books, tuition, mandatory fees, room and board, and any necessary equipment.
Please review the TurboTax articles Information on 529 Plans, Guide to IRS Form 1099-Q: Payments from Qualified Education Programs, and What is IRS Form 1099-Q? for further details.
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March 16, 2024
8:47 AM