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Education
The IRS has not finalized the 1099-Q form for Efiling, so you would not be able to Efile it anywhere yet.
For most qualified education program beneficiaries, the amounts reported on the 1099-Q aren’t reported on a tax return.
However, if annual distributions exceed your adjusted qualified education expenses, you may need to report some of the earnings reported in box 2 as income on your tax return and pay an additional 10 percent tax on it as well.
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January 28, 2020
1:00 PM