1099-Q - Recepient Parent, bene child but....

[AZ-Tax]

1099-Q - Recepient Parent, bene child but child paid all tuition books etc and child files her own tax return and claims herself. 1099-Q gross amt is subject to tax on parent tax return unless parents can come up with enough college related exps to meet or exceed the 1099-Q gross amt. Your thoughts.

[BP.]

1099-Q gross amt is subject to tax on parent tax return unless parents can come up with enough college related exps to meet or exceed the 1099-Q gross amt.

Not necessarily. Check out pub 970, p. 60 to see exactly how to treat the distribution.

[CVTax]

Room and board

Room and board is a QEE for a 529.