coladan1
New Member

Do I need to report the 1099-Q from a NY State 529 plan on my Federal Tax Return if the qualified expenses exceed my gross distributions?

I am in the process of doing my Federal Tax Return and I am stuck on an issue.  I have paid over 16,000 in tuition, fees, and room and board for my son who is a college student.  However, I did receive a 1099-Q from his state 529 plan for a gross distribution of 14,000.  I don't believe that I need to report this on my Federal return.  However, when I did.....it reduced my refund by a lot.  Just need to know if I can NOT report the 1099-Q on the federal given the above.  Thanks