College savings plan qualified distribution

[okrandy]

I took two qualified distributions from our state 529 plan to cover the educational expenses for my two children.  One distribution was for private high school tuition; the other was for college tuition.

The 1099-Q lists the total.  TTax wants to know the name of the student for which the distribution was made.

How do enter both names?

[JillS56]

Did the distribution from the 529 cover all of the expenses for tuition?   Was the amount of the 529 distribution more than the total of the tuition, books, and expenses for the education?  Was the 529 one account for the benefit of both children?  Were there two separate 529 accounts?   You would need to be able to determine how much of the distribution was for each child.   

A 1099-Q does not have to be reported on your tax return.   Unless the amount of the distribution is in excess of the actual tuition, books, and educational expenses.   For the college student, be sure to reduce the amount of tuition from any scholarships shown on the 1098-T.  Look at Box 1 and Box 5.  Is what is the difference?   Is Box 5 more than Box 1?    Room and board expenses can be used as expenses for the 529 distribution.  

[okrandy]

Thank you for your detailed response.  

The distribution was for less than the expenses.

I am the owner of the accounts so the single 1099-q came to me. ; my daughters are listed as the beneficiaries.  

Box 5 is not a numerical box; it has the state box checked. 

[Carl]

@JillS56 the 1099-Q form was revised in Nov of 2019. Box 5 is no longer for a dollar amount.  I also suspect you just confused the 1099-Q with the 1098-T, where box 5 is the amount of qualified education expenses. But see the new form 1099-Q at https://www.irs.gov/pub/irs-pdf/f1099q.pdf