KrisD15
Expert Alumni

Education

There is an update coming to allow Room and Board to be entered in to the TurboTax program. 

If a distribution was used totally for room and board expenses, you also have the option of leaving the 1099-Q out of the TurboTax program. The 1099-Q is only used for CALCULATIONS and if it was used for Room and Board, and therefore not taxable, it really isn't needed. 

 

According to the IRS: Page 44

"Generally, distributions are tax free if they aren’t more than the beneficiary’s AQEE for the year. Don’t report tax-free distributions (including qualifying rollovers) on your tax return."

 

@mhekins 

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