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Get your taxes done using TurboTax
>>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.
when I enter 1099 Q in TurboTax as entries in 1099 Q form, I see that it is changing my Tax Amount in TurboTax ( Top where you see whether you are getting refund or paying tax to IRS) so my Tax Amount increases so TurboTax is adding as Income so this is confusing. So Why TurboTax is adding 1099 Q as income. I am using TurboTax Premier desktop version.
‎April 27, 2023
9:13 AM