When reporting a 529 account program contribution, should I list the gross distribution amount (box 1) or the basis amount (box) 3?

dhenke1947 — Sat, 01 Jun 2019 18:08:40 GMT

When you report a contribution, you report what you PUT I...

KrisD — Sat, 01 Jun 2019 18:08:42 GMT

When you report a contribution, you report what you PUT INTO the account in 2018.

A 1099-Q with Box 1, (Distribution) Box 2 (Earnings) and Box 3 (Basis) is reported when a distribution is TAKEN OUT OF an account.

Please report the 1099-Q in the "Education Section" on the Federal return under "Deductions & Credits" or a contribution on the state return.

Also, if this is a 1099-Q for a distribution used for education, it should be entered into the same TurboTax program that enters the 1098-T so that the TurboTax program can make the proper calculations.

topic When reporting a 529 account program contribution, should I list the gross distribution amount (box 1) or the basis amount (box) 3? in Retirement tax questions

When reporting a 529 account program contribution, should I list the gross distribution amount (box 1) or the basis amount (box) 3?

When you report a contribution, you report what you PUT I...