I cannot continue my Federal Taxes (QTP)

[dabasa53]

I don't see any form on that list that seems to relate to this QTP issue....can you point it out?  Based on Photobike's post, it does not appear the IRS is even working on this.  Can you confirm this is not just an issue with the Turbo Tax software?

[SusanY1]

If the expenses were not taxable and were used only for qualifying expenses - that is for tuition, fees, room, board, books, and supplies, you are not required to report the information provided on the 1099-Q.  The IRS only requires you to report the information when the income is taxable.  

You can learn more about this form here: Guide to IRS form 1099-Q.

Some taxpayers, such as those who took taxable distributions and also made student loan payments may benefit from waiting to file their tax returns due to recent changes in the tax law.  The IRS has not yet issued guidance on many matters related to the changes, therefore taxpayers with 1099-Q distributions are advised to wait at this time.

[dabasa53]

@SusanY1 

My QTP distribution was not used for Qualified expenses and was not used to pay Student loans (and no other exception applies).  As such, further IRS guidance on 1099 Q will have no impact on my return. Nevertheless, the taxable gain from my distribution was rather small and a significant refund is being delayed due to the inability to file this return through Turbo Tax.  This is extremely frustrating.  I am having difficulty understanding why Turbo Tax will not allow filing of the return.  I am wondering if the return can be filed with other tax software and this is just a Turbo Tax issue.

[dan_ve_sf]

any idea if there's a way to sign up for updates/notifications when this is resolved?

[beaner]

I am also having the same issue with this delay due to QTP and the Congress holdup. . . no reason to be held up because it's such a low amount, but I cannot "skip" and file anyway with TurboTax.  And I just received an email from TurboTax saying I'm all set to submit. . . but it still won't let me!

TurboTax:  should we print out the forms and submit via snail mail or will this issue be resolved soon?  A time estimate would be helpful so we can decide how to proceed

[alundy]

Same situation here. Any idea what we can do about this or when it will be resolved on TT.

[Bjmv98]

Thank goodness I'm not the only one!!! I spent 5 hours doing my taxes just to finish and have this same issue. 

I'm hoping they give us an estimated time to have this fixed

[SusanY1]

We do not have an estimate for this at this time. 

If you feel like you cannot wait, you do have the option to remove the information related to the 1099-Q to file now and amend the tax return later.  TurboTax does not charge a fee to amend your tax return.

All amended tax returns must be filed by mail (this is an IRS requirement.)

If the amendment will cause you to owe additional tax, you should file your amended return before April 15, 2020, to avoid any interest or penalties on the extra tax due.  

[jamiekimry]

I have the same issue, and contacted TurboTax. I spoke with a representative who also was unaware of the situation, and could not help me resolve it.  He also did tell me that you are not allowed to file State now without filing Federal and it being accepted. Although I was hoping to at least submit state to get a portion of my refund quicker!  He had no idea as far as timeline that the form would be ready, and could not find any info on the IRS site. He suggested I wait until after January 31st to try again...

[KathrynG3]

If the form does not apply to you, you can delete it by going to the lower part of the left navigation pane to Tax Tools>Tools>Delete a Form

or 

1. Select Federal and then Deductions & Credits.
2. Scroll down to the Education section under All tax breaks.
3. Select, Show more and select Revisit next to ESA and 529 qualified tuition programs (Form 1099-Q).
4. Continue
5. Select the Trash can icon to Delete

@Stahlwittchen you said you were a Grad student. Did you also have a stipend? It is reported differently than income from Wages. 

[Stahlwittchen]

@SusanY1 

So you are saying that I could efile my taxes now (without my 1099Q), and then I can mail in my 1099Q & 1040X form a little later on? 

OR could I submit my taxes now AND mail in the write-in copy of the 1099Q? Which of these options work benefit me more?

If I didn't hear you correctly, please correct me. 

[Stahlwittchen]

@KathrynG3 

I am using a 529 Plan to pay for school, which is why I got the 1099Q form. Just distributing the money to my bank and then paying my school, that is it. I am not paying students loans nor do I have a stipend. 

I have been convinced that I NEED to include my 1099Q form on my taxes, as it may be taxable but I have absolutely no knowledge of that. 

Is it possible that I can just delete them from my e-file taxes on here and then mail them in by hand if needed?

[MarilynG1]

You don't need to include your 1099-Q in your tax return if the entire distribution was used for eligible Education Expenses.

Click the link for detailed info on the 1099-Q.

[dabasa53]

Jamiekimry, 

thanks. I will wait a few days until Jan 31, but I am becoming convinced this is a turbo tax issue only. I am now considering using other tax software to file and see if they similarly block e-filing for the time being. I doubt they will

[dabasa53]

It seems to me Turbo Tax has this backwards. Perhaps those taxpayers who used QTP distributions to pay student loans or are otherwise favorably impacted by the recent Secure Act changes should be advised to wait to file until adjustments to the program are made (or file an amended return later), rather than prevent those all taxpayers with taxable QTP distributions but are not impacted at all by these changes from e-filing.