Where do I enter proceeds from EE savings bond rolled into 529 account

[alsn]

I redeemed EE savings bonds during 2023 and received the 1099-INT with a small amount of interest in Box 3. I immediately deposited the entire amount into my child's 529 account. I have entered the 1099-INT in TurboTax (Deluxe Windows). Where do I enter the contribution/rollover into 529 so that the interest is not taxed? I believe I need to file form 8815 for this purpose. However, I am hoping that TurboTax will generate this form for me. Please advise. Thank you.

[Critter-3]

https://ttlc.intuit.com/community/taxes/discussion/how-can-i-add-form-8815-into-turbotax-return-i-ha...

[alsn]

@Critter-3 I tried to use these steps. However, there is no option for 529 contribution. I selected the ESA option but that still did not work. Although form 8815 was generated, no interest was excluded from taxable income even though my 529 contribution matched the proceeds from EE savings bonds. Note that I did not have any qualified expenses but only this contribution. However, my understanding is that interest is not taxable if the proceeds were rolled into 529.

Can someone from TurboTax please provide the exact steps with screenshots?

[AmyC]

Form 8815

Column 1a - name

Column 1b - select QTP for 529 or ESA and enter that as the name of the institution

Line 2 list the amount of the contribution

Line 3 is zero unless you had offsetting education benefits.

Here is my fake return with the 8815

[AmyC]

The 529 plan since that is where they were rolled.

[vt-hokiee]

Is the form 8815 directly edited after paying for TurboTax but prior to e-filing? How do I know that the taxable amount is properly adjusted?

[SharonD007]

When you make changes, the form is automatically updated.  You can preview your entire Form 1040 with schedules and worksheets before you file.

Refer to the TurboTax articles How do I preview my TurboTax Online return before filing? and How do I preview my return in the TurboTax Desktop software?

If you are using TurboTax Online, you must pay for your tax return before you can view or print it.

[trice777]

I have the same issue with I bond proceeds rolled over to a 529 plan.  I am in Turbotax Online.  I cashed in $23K in Ibonds ($3K interest) and deposited into a 529 plan.    On one screen, I checked that I contributed  to a 529 plan when asked, "Did you use your U.S. savings bonds to pay for higher education expenses?"  But then it asks questions related to expenses and never addresses the 529 contribution.  It then says that I don't qualify.  However, I do qualify.  

[AnnetteB6]

You need to enter the amount rolled into the 529 plan as a qualified education expense that was paid during the year.  Then there will be additional questions about the bonds that were cashed so that you may qualify for the exclusion.

@trice777 

[Hal_Al]

The amount ($23K) you rolled over is your educational "expenses".

[bearchris19]

I'm so glad to read this thread as I have the same question. Then another question is what do I input for the institution name as my child has not yet been admitted to any college? Shall I just input the name and address of my 529 plan provider?

[Hal_Al]

Q. Then another question is what do I input for the institution name as my child has not yet been admitted to any college? Shall I just input the name and address of my 529 plan provider?

A. Yes.