All of the following information applies to Turbotax Deluxe
software, 2018 1098-T Statement received from college, Form 1099-Q page 3
Turbotax printout, and Schedule 1, line 21.
Here's the data:
1098-T
Statement; box 1=$54,184, box 5=$43,910, boxes 3 and 8 are checked and all
others are blank.
Form 1099-Q page 3
Turbotax printout, Qualified Tuition Program (QTP) Computation of Taxable
Distribution, For Purposes of Regular
Tax column (10% additional tax does not apply), Line 1=$11,468; Line 2a=0, Line
2b=$274, Line 2c=$274, Line 3=$1194, Line 4=$2874, Line 5=0.0239, Line 6= $69,
Line 7=$2805. Schedule 1, Line 21=
$$2805.
Everything I read says QTP
distributions are not taxable. Why is
the $2805 considered income?
