A 529 Plan distribution was sent directly to my daughter's college for tuition. I will claim her as a dependent and do not qualify for education credits based on income. My daughter is listed as the recipient on the 1099 Q. My daughter has also received some scholarships.
A couple of questions:
1) Is the 1099-T reported on my (parent) tax return, my daughter's or both?
2) Is the 1099Q reported on my (parent) tax return, my daughter's or both?
3) I understand that I can take a distribution in the amount of the scholarships without penalty. Can the 529 plan distribution for the scholarship amount be paid directly to me (parent) without triggering any penalties?
