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Retirement tax questions
I do not think Turbotax covers all the possible scenarios. It covers the rollover case, but does not cover the case where I withdraw from a Coverdell and simply use the money to make a contribution to a 529 of the same beneficiary. That is not a rollover and therefore not subject to the rollover 60 day/1 within a year rules. It is simply considered a qualified expense. However, if you try to enter it as a qualified expense, Turbotax assumes the beneficiary is in college. I have gotten around this by lying to Turbotax that it is a rollover and lying about the dates to satisfy to 1 year rule. Would love ofr someone from Turbotax to comment.
‎June 4, 2019
5:00 PM