MNYL
Level 3

1099Q - need to report to avoid amending 2021 return?

Hi Experts,

 

I contributed more on the Coverdell ESA account than I was allowed in 2021.  I got that removed before 5/31/22.  There are earnings from the over contribution.  I will be getting the 1099Q in 2023.  To avoid amending tax return for 2021 when I receive the 1099Q in 2023, do I need to enter the earnings on my 2021 tax return (not yet file, waiting on this part)?  If so which portion in Turbo tax I should enter this earning information? Please kindly advise.

 

Thank you for the assistance!