KrisD15
Expert Alumni

Retirement tax questions

If the distribution was used for education expenses, it needn't be entered into the TurboTax program, however if it paid tuition and fees, that amount of tuition expense may not be allocated towards an education credit. 

 

If you are going to enter the 1099-Q, the box reporting earnings needs to be entered. 

You need to check with the financial institution to find out if for some reason the account had no earnings. That would be very uncommon. 

 

If any of the distribution is taxable, the program needs to allocate the tax between the earnings and the basis. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"