Marcy17
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Thank you! An excellent, thorough answer!
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I am well aware of what a 529 can be used for and how it must be used for education expenses to not be taxable. Also aware of scholarships influence on all that...
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I always follow through on Turbo Tax questions and it NEVER handles these distributions correctly.
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I think Turbo Tax handles 529s incorrectly. It seems to always make it taxable, even if the expenses exceed the amount of the 1099-Q basis and earnings reported...
Activity Feed for Marcy17
- Got Cheered for Re: 1099-Q - distributions being taxed incorrectly?. March 30, 2025 10:03 AM
- Posted Re: 1099-Q - Do I have to put the information on my taxes? on Education. May 29, 2021 12:30 PM
- Posted Re: 1099-Q - Do I have to put the information on my taxes? on Education. May 29, 2021 6:40 AM
- Cheered Re: Why does TurboTax continue to fail in handling 1099-Q and qualified 529 distributions?!! for tcollinsw1. May 27, 2021 3:37 PM
- Posted Re: Why does TurboTax continue to fail in handling 1099-Q and qualified 529 distributions?!! on Education. May 27, 2021 3:22 PM
- Posted 1099-Q - Do I have to put the information on my taxes? on Education. May 27, 2021 3:21 PM
- Cheered Why does TurboTax continue to fail in handling 1099-Q and qualified 529 distributions?!! for jnltaylor. May 27, 2021 3:21 PM
- Cheered Hi carl. I didn't change my 1099-Q amount. Nor my qualifi... for farney. May 27, 2021 3:15 PM
- Posted Re: 1099-Q - distributions being taxed incorrectly? on Get your taxes done using TurboTax. May 27, 2021 3:09 PM
- Cheered Re: 1099-Q - distributions being taxed incorrectly? for mdsttuser. May 27, 2021 2:39 PM