Hello! Last year my oldest child decided that college was not for him, so we transferred the balance of his 529 account to his siblings - how do I enter this transfer?
Hello! Last year my oldest child decided that college was not for him, so we transferred the balance of his 529 account to his siblings - how do I enter this transfer?
You don't enter it at all, unless you got a 1099-Q for the transfer (unlikely). Then the interview will handle it.
Even then, you can just not enter the 1099-Q. On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."