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Level 2

Question

1099-Q Box 2 Empty

Forum|Forum|4 years ago
March 24, 2022
5 replies
9 views

On our 1099-Q notification, Box 2 is blank. The state education contract was canceled by us because of unused college credits. Does that mean Box 2 can be considered "zero"? Boxes 1 and 3 have the same amount.

TurboTax Deluxe Online

Level 15

In the TT program do NOT fill in zeros when boxes on the form are blank ... simply leave them blank in the program as well.

Lumbers84Author

Level 2

So there is no calculation or a mistake on the part of the issuer? I'm confused because I thought it is income returned that was previously invested before taxes. I did see that the income could be classified as a return of investment which may have had no gain.

Level 15

If Box 1 and Box 3 are the same amount, there were no earnings in the distribution.

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