I was attempting to make sure I complied with Hal_AL's suggestion regarding the order of entering the 1099-Q and Expenses but Turbotax ONLINE forces you to enter the Education expenses first. You won't get a prompt to enter a 1099-Q until you enter the expenses.
See the the message below . The program forces me to enter the Education section first and then come back to the 1099-Q even though I started trying to enter the 1099-Q. I remember now on my real return starting with the 1099-Q but having to circle back to it after entering the Expenses.
Like I said, THERE DOES NOT SEEM TO BE ANY WAY TO ALLOCATE QEE in Online TT other than to accept what TT chooses. Can anyone confirm this? I would love to see a screenshot of the Online TT asking to change the QEE allocation for AOTC.
Message when attempting to enter 1099-Q the first time:
You don't need to enter this 1099-Q info
| Because you're not the Recipient of this 1099-Q, you don't need to enter this 1099-Q here. Your return isn't affected, so here are your options. |
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| | | | | Since you're not the recipient of the 1099-Q, you can just skip entering it | | | | Or, you can add your student's education expenses first, then come back here and enter this 1099-Q info to see if the amount is taxable for the recipient. (This will not affect your return but may help you if you are also preparing the Recipient's return.) |
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