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February 13, 2021
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Used child's 529 account for tuition in 12/20 (for spring term). College issued 2 refunds to us (in Jan

  • February 13, 2021
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Refunds were due to pro-rated room
Best answer by KrisD15

You can return the refunded amounts to the 529 Account within 60 days thus eliminating the potential tax.

When you enter the 1099-Q, the TurboTax program will ask if any amount was returned within the 60 day window.  

1 reply

KrisD15
KrisD15Answer
February 14, 2021

You can return the refunded amounts to the 529 Account within 60 days thus eliminating the potential tax.

When you enter the 1099-Q, the TurboTax program will ask if any amount was returned within the 60 day window.  

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