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jan271
Returning Member

1099-Q 10 Form Limit

I received 18 1099-Q forms for non-qualified education distributions but Turbotax only lets me enter in 10 forms. The forms are from 6 different Payers but there are 18 of them. How do I get around the Turbotax limit?

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2 Replies
KrisD15
Employee Tax Expert

1099-Q 10 Form Limit

Were they used for education purposes or something else?

 

If you need to enter them because they will count as taxable income, I suggest you add Boxes 1,2,3 on several that are similar (Private or State, Trustee to Trustee,  same beneficiary) and enter the combined amounts as one 1099-Q.

 

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Hal_Al
Level 15

1099-Q 10 Form Limit

Combine the ones from the same payer (if the same recipient and beneficiary).

 

Some of them may not need to be entered at all. 

You can just not report the 1099-Q, at all, if your student-beneficiary has sufficient educational expenses, including room & board (even if he lives at home) to cover the distribution. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms. But, it will prepare a 1099-Q worksheet for your records. You would still have to do the math to see if there were enough expenses left over for you to claim the tuition credit. You also cannot count expenses that were paid by tax free scholarships. You cannot double dip! 

References:

  1. On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution." 
  2. IRS Pub 970 states: “Generally, distributions are tax free if they aren't more than the beneficiary's AQEE for the year. Don't report tax-free distributions (including qualifying rollovers) on your tax return”.

 

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