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I used my 529 College Saving Plan in 2016 for tuition. I input a 1099-Q on my form and now it shows I owe a federal tax?

 
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Fern
New Member

I used my 529 College Saving Plan in 2016 for tuition. I input a 1099-Q on my form and now it shows I owe a federal tax?

You also need to enter your tuition and education expense. Input the information as follows:

• Select Federal Taxes
• Select Deductions and Credits
• Select Show More at Education
• Select Start or Revisit at Expenses and Scholarships (Form 1098T)

If the tuition and expenses entered are greater than the distribution from the 1099 Q, the distribution will not be taxable.

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1 Reply
Fern
New Member

I used my 529 College Saving Plan in 2016 for tuition. I input a 1099-Q on my form and now it shows I owe a federal tax?

You also need to enter your tuition and education expense. Input the information as follows:

• Select Federal Taxes
• Select Deductions and Credits
• Select Show More at Education
• Select Start or Revisit at Expenses and Scholarships (Form 1098T)

If the tuition and expenses entered are greater than the distribution from the 1099 Q, the distribution will not be taxable.
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