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Qualified tuition program comp or taxable distribution - I am being taxed on a portion of my distributions from my 529 plan. How is this number on line 2b calculated?
We took $19,354 in distributions from my son’s 529. ALL money was used for qualified college expenses. Under the “qualified tuition problem computation of taxable distribution” section of the 1099-Q on line 2b, there is an amount $16,850. Where does this number come from? I don’t understand why I would be taxed on any of the distribution if it was ALL used for qualified expenses.
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June 3, 2019
12:10 PM