Raglop
New Member

Entering 1099-Q and 1098-T information increases my Fed and state taxes

Even though my gross distribution on my 1099-Q is equal to all of my qualified college expenses (form 1098-T plus room and board), my tax liability increases when I enter my information into turbo-tax.  I've found that if I overstate my eligible expense by $10K, my tax liability stays flat. Is there some type of cap? Thanks!