For various reasons I waited until 12/31/20 to request a distribution from the 529 plan - Fidelity's site says the date of request governs the distribution timing, but now they tell me I won't receive a 2020 1099-Q, it will 2021 because the funds didn't actually transfer until Jan 2021. We don't have qualified expenses in 2021, the beneficiary has graduated and there are no other children and future education expenses.
I can't find a clear requirement about what constitutes a distribution date - any advice on how much risk if I consider this a 2020 distribution and if I do that how would I would I handle the 2021 tax return when the 1099-Q comes and my qualified expenses are from 202 ? And can I self report a 2020 1099-Q? Or is my only option to just pay the tax on a nonqualified 2021 distribution, which I know is the safest but seems unfair.