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April 12, 2024
Question

TurboTax asks for prior year 529 contributions even if never had unqualified withdrawals

  • April 12, 2024
  • 0 replies
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(1)  Like others have posted, TurboTax is asking for 529 contributions for all prior years, even though I have never made an unqualified withdrawal from a 529.    I agree with others, this seems like a bug and should be corrected.

(2)  In addition, the wording of that question  ("Enter the total of all 529 contributions from 1998 through 2023")  does not make it clear whether one should enter the sum of the yearly amounts only up to the amount that can be deducted each year ($5000) or whether the sum of the actual total amounts contributed (i.e. including even amounts above the 5000) should be entered.