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Education
Yes, that is my suggestion.
I tested and no account number was required, if TurboTax shows that as an error, enter one of the account numbers in that space. This is only for a worksheet, so none of that information is relayed to the IRS.
Since none was used for education purposes, you will be taxed on the total earnings.
That amount will be listed on Schedule 1 line 8z. (flows into the total reported on 1040 line 😎
You will also incur a 10% penalty tax on the earnings, that will be listed on your schedule 2 line 8. (flows into the total reported on 1040 line 23)
Sometimes TurboTax shows ALL your income, not just your TAXABLE income.
You can look at your 1040 to get a better idea of what the program is doing.
For TurboTax Desktop, switch to Forms (top right)
To View using TurboTax Online:
Select Tax Tools on the left side-bar
Select Tools from that drop-down
Select “View Tax Summary” on the TOOLS CENTER screen
Select “Preview my 1040” which now appears on the left side-bar
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