chiodoinc
Level 4
03-07-2023
03:20 PM
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Camp1040
Level 11
03-07-2023
04:18 PM
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You contribute to a 529 plan with after tax funds and then if the distributions meet the education use qualifications then the basis AND earnings are tax free.
Accountant-Man
Level 13
03-07-2023
09:22 PM
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I think it only works on a resident return. Is there a deduction line on the non-resident return?
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chiodoinc
Level 4
03-08-2023
03:18 PM
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Is there a box to mark for the earnings to be tax free if the distribution is used for education?
chiodoinc
Level 4
03-08-2023
03:21 PM
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Thank you. There is a box but when I add the contribution but it doesn't populate it on return so I think it is disallowing it on a nonresident return. The literature I could find was two years old so I wasn't sure if it was accurate. I appreciate the feedback