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Education
No, you don't have to enter Form 1099-Q. It only needs to be reported on the tax return of the person whose SSN is on the form if the withdrawal is more than the tuition paid in Box 1 of the student's1098-T plus other adjusted qualified educational expenses. In that case, the earnings on the excess distribution would be taxable income.
Please refer to the TurboTax article What is IRS Form 1099-Q? for additional information.
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‎February 17, 2025
2:04 PM