topic Should I put 529 1099-Q taxable portion of distribution on my taxes under "other income", or does student beneficiary? in Retirement tax questions

Should I put 529 1099-Q taxable portion of distribution on my taxes under "other income", or does student beneficiary?

sgc6000 — Tue, 04 Jun 2019 19:34:09 GMT

This year my dependent's education expenses do not equal or exceed the 529 distributions. Turbo tax is telling me "the student beneficiary must report $XXX of taxable income from this distribution". The 1099-Q and 1098-T are claimed on my taxes, so do I claim this taxable portion under "other income", or does my dependent need to file and claim under "other income"?

Your student should put the 1098-T and 1099-Q on their re...

MarilynG — Tue, 04 Jun 2019 19:34:10 GMT

Your student should put the 1098-T and 1099-Q on their return if education expenses don't exceed Scholarships and 529 distributions, creating other taxable income.

You can still claim your student as a dependent on your return, if you are eligible to do so.

If the student is not required to file a return, then none of the education items need to be reported.

Here's a detailed discussion on your situation to help you:

https://ttlc.intuit.com/replies/6518490