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Retirement tax questions
To KrisD15:
Thank you for your input, and sorry for the delay in responding, but this is the first I got back to working on this.
The issue is the withdrawal was made on 12/28/21, via a check sent from the 529 administrator directly to the college, but by the time the college received and applied it, it was 1/6/22. So that is why the payment for the 2022 semester is not recorded on the 1099-T for 2021. And thus why the 1099-Q amounts don't match the 1099_T amounts.
The suggestion for clarifying on the 1099-T the year for the expenses is appreciated. I will make that adjustment. Thanks for that!
In the future, I will make sure the withdrawal and expenses match up per calendar year.
Thanks again for your time in responding!
March 19, 2022
10:34 AM