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4evertexan
February 3, 2020
Question

College Room and Board

  • February 3, 2020
  • 1 reply
  • 0 views

I used a 529 plan to pay for my daughter's collect for the 2019-2020 school year including room and board.  Can I enter the total amount for room and board for the fall 2019 and spring 2020 on the screen that is asking for education expenses.

    1 reply

    DavidS127
    DavidS127
    February 3, 2020

    Yes, you can enter the total amount paid for room and board, as long as the room and board were paid in the same year the 529 plan distribution was taken.

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    4
    4evertexanAuthor
    February 6, 2020

    Ok.  So I took a 529 distribution in Aug 2019 to pay for the fall 2019 semester (including room and board).  Then I took another 529 distribution in Jan 2020 to pay for the spring 2020 semester (including room and board).  Are you saying I can enter the total amount for room and board for both semester on my 2019 taxes in the college expenses section?

    DavidS127
    DavidS127
    February 8, 2020

    No, match the 529 distribution taken in January 2020 with the spring 2020 semester payment.

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