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Getting taxed for qualified education expenses 1099-Q?
Sorry to ask this question but seems a little different than others. I’ve entered 1099-Qs for both my daughters for 2023 from their 529 distributions. As a result my tax refund dropped by over $1200.00. When I try to enter the 1098-Ts they received from their university, TurboTax states that my income is too high to qualify but tells me to enter them anyway to avoid getting taxed for qualified expenses. However, despite this advice, TurboTax does not let me enter their 1098-Ts. There is to option to enter. Is this a glitch in the software? Should I delete the 1099-Qs (as suggested in previous similar responses)? Are there consequences for deleting the 1099-Qs? thanks in advance.
February 18, 2024
11:34 AM