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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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529 Distribution reporting as income
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CAPCPA
Level 2
03-24-2022
03:00 PM
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Why is the earnings portion of a 529 distribution (1099-Q Box 2) carrying onto the parents tax return as misc. income? The Tuition and education expenses far exceed the total distribution amount. No AOTC or LLTC as parents income is too high. What am I missing?
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