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QTP Qualified Tuition Program computation of taxable distribution Line 3b
After entering 1099-Q for QTP, a calculation is made for "regular tax" resulting in taxable income from a Qualified Tuition Program. This taxable income then flows into 1040, Schedule 1. This should not be taxable income--the tuition expenses per 1098-T meet or exceed the distribution from the QTP. Does anyone know why this calculates an income? Or is this a glitch in the coding?
‎February 3, 2019
2:40 PM