I've attached a spreadsheet showing withdrawals from the 529 plan for 2024 (for my daughter).
The total amount distributed from the 529 in 2024 was $38,612 as shown in the 1099-Q for 2024. Of that amount on the 1099-Q, $7,100 was used for 2025 tuition but distributed on 12-30-2024.
The amounts spent on education expenses for 2024 was $32,769.14. However, of that amount, I just realized that $3,250 is non-qualified because this amount was used for Student Health Insurance (a plan providing coverage on/near campus).
QUESTION: how do I enter this information into TT Deluxe for my 2024 tax return?
| | | | | | |
| 1099-Q | 38,612.00 | | | | |
| | (7,100.00) | processed on 12-30-2024- used for 2025 tuition |
| subtotal | 31,512.00 | | | | |
| | | | | | |
| Spending- education | 32,769.14 | | | | |
| non-qualified expense | (3,250.00) | Student Health Insurance | |
| subtotal | 29,519.14 | | | | |
| | | | | | |
