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Education
In your case, as the tuition paid more than covers the distribution from the QTP, you do not need to enter form 1099-Q at all on your tax return.
On form 1099-Q, instructions to the recipient read: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."
Just keep records of the tuition payment in your tax records in case of an IRS inquiry or audit.
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March 22, 2023
12:06 PM