2709243
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

Hal_Al
Level 15

How do I enter the amount of the scholarship?

No.  That's not going to match form 5329.  It goes on line 8z of Schedule 1. There is a question in the 1099-Q interview about ABLE.  You may have answered that wrong.

 

To enter the taxable amount ($9996) on line 8z, not using the 1099-Q, interview:

In TurboTax (TT), enter at:
- Federal Taxes tab (Personal in  Home & Business)

 - Wages & Income

  • “I’ll choose what I work on” Button

Scroll down to:

-Less Common Income

      -Misc Income, 1099-A, 1099-C

       - On the next screen, choose – Other reportable income  

       - On the next screen, click yes

       - On the next screen, you'll get blanks to enter the amount ($9996) and a description ("Taxable portion 529 distribution from 1099-Q")

 

You would only want to do that if you are planning on using the manually entered form 5329 that you mentioned earlier. 

 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question