My son is off to college in the fall and I am paying the first semesters room and board with his ESA account. How do I report this on my (or maybe his) 2013 tax return?
- posted
10 years ago
ESA tax reporting for college expenses
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- posted
10 years ago
You'll get a 1099-Q for the distribution. Use the instructions in Pub 970 to figure the taxable portion, if any. If no taxable income, nothing is reported on the 1040. See the instructions for line 21 of the 1040.
Phil Marti VITA/TCE Volunteer Clarksburg, MD