If the expenses were not taxable and were used only for qualifying expenses - that is for tuition, fees, room, board, books, and supplies, you are not required to report the information provided on the 1099-Q. The IRS only requires you to report the information when the income is taxable.
You can learn more about this form here: Guide to IRS form 1099-Q.
Some taxpayers, such as those who took taxable distributions and also made student loan payments may benefit from waiting to file their tax returns due to recent changes in the tax law. The IRS has not yet issued guidance on many matters related to the changes, therefore taxpayers with 1099-Q distributions are advised to wait at this time.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
