Where to enter education expenses reimbursed by 529 Distribution

Forum|Forum|4 years ago
February 2, 2022
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Where do I enter the room and board expenses - not paid to the institution - which I have been reimbursed by through a 529 withdrawal. I am the recipient of the distribution, but not the beneficiary, so I'll be reporting these items on my tax return.

TurboTax Home & Biz Windows

Hal_Al

Employee

You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. !

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."

Otherwise, you enter the 1099-Q. Then later you enter the educational expenses at the education section.

To get the screen to enter Room & Board, answer yes when asked if you have book expenses.

When living off campus, room and board is limited to the lesser of you actual costs or the school's allowance for on campus students.