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1099-Q
Guidance from the state of Virginia state
"If your beneficiary's qualified higher education expenses for 2019 equal
or exceed your Virginia529 account distribution(s) taken during 2019, you
do not need to report the earnings on your federal tax return"
Turbo Tax simply asks if I received a 1099-Q and takes the dollar amount as income. It is not clear to me if I need to enter the 1099-Q if I only received equal or less than the expenses?
March 1, 2020
4:32 AM