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abexpilot
April 14, 2025
Question

Where do you input the cost of room and board to reduce the tax due from a 529 distribution?

  • April 14, 2025
  • 1 reply
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    1 reply

    AmyC
    AmyC
    Employee
    April 15, 2025

    Two options:

    1. If part of the Q will be taxable, enter the Q first then add the expenses. As you go through the program, it will ask about room and board.

    2. If the Q is fully used on  529 qualified Room and Board (including students living at home) and Qualified Education Expenses - Internal Revenue Service  then the nontaxable transaction should not be entered.  IRS Publication 970, Tax Benefits for Education states:

    Page 45: Don't report tax-free distributions (including qualifying rollovers) on your tax return.

     

     

     

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