Gderoche
Returning Member

1099-Q "Earnings"

If all of the gross distribution are used for approved expenses, how are the "Earnings" calculated?  Box 1 is $15,000, Box 2 is $6236.49, and Box 3 is $8763.51.  The $6236 is being considered unearned income.  All of the $15,000 was used for approved expenses.  Is there somewhere to claim that these earnings were for approved expenses?  

 

Thanks,

Glenn Derochers