1098T and 1099Q clarification needed ...ty

[AmyC]

You are missing room and board. The ESA is not taxed when used for room and board. You did not list those expenses above.

Your ESA is not to be taxed. You skipped the question about amount used for room and board. Go back and put a bigger number in there that makes sense.

[Carl]

@KrisD15 You stated:

Congress just made a change regarding 529 distributions and the software is being updated.

Is this pertaining to the Emergency Financial Aid Grants under the CARES Act, as shown on page 2 of IRS Pub 970 at https://www.irs.gov/pub/irs-pdf/p970.pdf ??? Or something that's not in the Pub yet?

If it's not in the pub, can you cite me the Statute or whatever please? I need to check my boilerplate and make sure it's complete, correct and current.

Meanwhile, there's so much "participation" in this particular thread, I'm staying out of it. 🙂 Please feel free to PM me, instead of adding to this already big thread.

[chamnessd]

My son commutes to school so there is no room and board.

[Hal_Al]

@chamnessd 

For a 529 distribution, you may still claim "board", but not "room", even if the student lives at home.  You can keep track of actual  food costs  or just use the school's meal plan charge for on campus students, whichever is less. 

[chamnessd]

I am not sure how to do a private message.  Perhaps you can send me a private message and I will respond.  My question does not pertain to the Cares Act  I believe I sited Pub 970 in my original post.   Note Chapter 7, p. 54, subheading Coordination with American Opportunity and Lifetime Learning Credits.  

I honestly believe there is a bug in this section of TurboTax.