Hal_Al
Level 15

Education

Q. I can't help but feel like I'm doing something wrong by not entering 1099-Q.  Does the IRS not care about this?

A. Even if you enter the 1099-Q and TT correctly calculates that none of it is taxable, nothing about the distribution, or the 1099-Q,  is sent to the IRS.  It is not reported on your tax return.  Entering it does not reduce you chances of hearing from the IRSThere is no IRS form that is filled out and sent with your tax return.

 

Q. You must enter the 1099-Q before you enter the 1098-T", but then you say, "You can just not report the 1099-Q". 

A.  The 1099-Q is just an informational document, you are not required to report it on your tax return. But if you do try to enter it (and many people do, for the same reason you're reluctant), you must enter the 1099-Q to get TT to generate the screen you need.

 

There is no way to report the 1099-Q info, to the IRS. You can only report the taxable amount (except if the taxable amount is 0).