Thank you very much @NCperson! ... View more

@NCperson comments inline Box 1 and Box 5 of  form 1098T 52987.00 and  51720.00   2) Box 1 and Box 2 of Form 1099Q 15,430 and 4,326   3) any qualified expenses (Room and Board, books, computer expenses, etc.) that are NOT part of Box 1 of Form 1098T Out of 15,430 (from 1099Q) - 1267 fees ( 52987.00 -  51720.00)  = 14163 (room and board)   4) whose social security number is on the 1099Q Student 5) are you eligible for AOTC? (AGI below $160,000) No 6) confirm your student is a dependent on your tax return. Yes ... View more

From 1099Q: Instructions for Recipient Distributions from Coverdell education savings accounts (CESAs) under section 530 and qualified tuition programs (QTPs) under section 529, including rollovers, may be taxable. Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return.   You are right. if it is qualified distribution then there is no point to report it. Just wanted to know your thought.  The confusion started when you report these two forms (1098T and 1099Q) separately and school is not including room and board in 1098T anymore.  ... View more

 Is it the right place to enter Room and Board?If you don't enter 1098-T in student's tax filing then it is considering the 1099Q earning as taxable.  How to handle that in student's tax filing? alternatively, don't report it. ... View more

Desktop premier version. In 2018 1098T form, it was included but looks like school excluded that amount from 2019 1098T. Is it changed from this year. I compared my last year turbo tax (desktop premier) and it is included ( just because it was part of 1098T). What's the option now? Housing Payment in 2019 (Paid from 529 plan) 15430.67 (Box1 1099Q) shows in school payment website. Please suggest. ... View more

>>>any qualified expenses (Room and Board, books, computer expenses, etc.) that are NOT part of Box 1 of Form 1098T   What I found out that the amt sent from my 529 plan for room and board to school is not matching the Box1 of Form 1098T.   It is off by 14163.67. That's why when I file a return for my daughter it ask me to pay tax on the difference.  The student is a dependent on my tax return.   >>>the 1098T goes on the parents return, assuming the parent CAN claim the student (whether they do or not is not the question) AND Box 1 and any related expenses EXCEED Box 5 During filing return for the student, it asks if you have received 1098T and enter it. It compares 1098T (Box1-Box5) with 1099Q (Box1) (if qualified distribution) and calculates whether you have to pay the tax or not. that's what is happening. Is there a way to delete 1098T from student's filing? ... View more

Thanks for the detail answer. I need to clarify one point from your answer “””” You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. Again, you cannot double dip!  When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. “””“” in my case tuitions are fully paid and paying room & boarding to school from 529 plan. I hope It is a qualified distribution.  >>When the box 1 amount on form 1099-Q is fully covered by expenses.   Box1 Amt is fully paid to school for room/boarding/admin fees. Not sure why TurboTax is calculating tax on earning. It is not calculating correctly. As you said, I will delete the 1099Q from my daughters return. I’ll Keep 1099T in my return only.  another question? Last year I had included 1099Q in my return ( fully qualified) instead of adding that to my daughter’s return. Will that cause any issue? Actually, TurboTax allows to enter 1099Q for dependents (beneficiary) in parents return.      ... View more

Thanks. It was not an issue last year. I’m comparing side by side. Is it a Turbo tax software  issue?  ... View more

I’m having the same issue. 10% tax is being added on the 529 earning even though it is paid to university from my 529 plan for room/board. I compared last year turbo tax and it was not calculating the same way. By the way my 529 plan distributed for  room and boarding. The earning in box 2 shows taxable. If the beneficiary is my daughter  but I own the 529 plan should I enter 1099q in My return. Last year I had done that way but I think if student is filing tax then he/she should enter that . Please confirm. ... View more