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Reply to "MD 529 disbursement question "
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[quote=Anonymous]Hello, This is the first year that I have taken a 529 withdrawal and not sure how to report this in turbo tax. Here is the scenario: Withdrew about $35k in 2025 for qualified education expenses at UMD: about $32k tuition, room, board and $3k computer and books all for my kid who is a freshman and is a beneficiary of the account. The first withdrawal for fall semester and computer of about $18k was transferred into my (parent) checking account and then I paid the bill from there. For this, I received a 1099Q with my name and soc sec#. For the second semester withdrawal of $17k, I had the transfer made directly to UMD. For this we received a 1099Q with my kids name and soc sec #. Turbo tax is suggesting that I enter the $18k distribution on our married file jointly taxes but I do not see a place to offset it with qualifying expenses? When I try to enter the 1098T in turbo tax it says to exclude because it is for my son. Any ideas how to fix? [/quote]
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