You'll need to sign in or create an account to connect with an expert.
The distribution is counted as taxable income until you enter enough education expenses to cover the distribution. If you have a 1098-T, enter it under Education expenses. You will be asked how much of the expense you want to allocate to the credit, and then the balance will be used to make your distribution nontaxable.
If you did not receive a 1098-T because the expenses were for something like high school, which is allowed by many 529 plans, and all the distribution was used for eligible expenses, you don't report it at all.
The distribution is counted as taxable income until you enter enough education expenses to cover the distribution. If you have a 1098-T, enter it under Education expenses. You will be asked how much of the expense you want to allocate to the credit, and then the balance will be used to make your distribution nontaxable.
If you did not receive a 1098-T because the expenses were for something like high school, which is allowed by many 529 plans, and all the distribution was used for eligible expenses, you don't report it at all.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
huntinad
Level 1
maylh
New Member
allentravers
New Member
TomG6
New Member
Phillip6000
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.