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Get your taxes done using TurboTax
If the Q went to qualified expenses, it should not be entered. However, you will need to keep all your records to prove this, if the IRS asks.
IRS Publication 970, Tax Benefits for Education states:
If the entire 1099-Q went to qualified expenses, room and board, tuition, etc then you do not need to enter the form. Tuition paid for the first 3 months of the next year also qualify, see page 12, What Expenses Qualify, and page 52 for qualified distributions.
Page 45 repeats: Don't report tax-free distributions (including qualifying rollovers) on your tax return.
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‎April 14, 2024
10:09 AM