Education

"It's best if you have some idea of the outcome expected, when you make your entries"

 

If I knew the outcome, why would I need the TurboTax software???

 

"The 1099-Q is  only an informational document. The numbers on it are not required to be entered onto your (or your student's) tax return."

Well, on the 1099-Q form, it says:

 

"This is important tax information and is being furnished to the IRS.  If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported." 

 

I don't want to take the chance of not reporting it and later on be liable for back taxes, fees, and interest.

 

Overall, your answer has not been helpful.  I haven't learned anything new from this conversation.  TurboTax has all my data and all my son's data, and yet it can't figure out what the right thing to do is.  I agree that the the tax law is complicated, but the expectation is for the TurboTax software to deal with it, and not put the burden on the tax payer.