Client's son graduated college in June and has been working full time and is filing on his own. Since he is no longer a dependent, how is the 529 withdrawal, taken in January 2021 to pay for the last semester of school , handled on the clients taxes? The son is the 529 beneficiary but it was taken from the clients 529 account.
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Client will get the 1099-Q.
They report on their 1040 that it was used for qualifying expenses.
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