KrisD
Intuit Alumni

Retirement tax questions

When you report a contribution, you report what you PUT INTO the account in 2018. 

A 1099-Q with Box 1, (Distribution) Box 2 (Earnings) and Box 3 (Basis) is reported when a distribution is TAKEN OUT OF an account. 

Please report the 1099-Q in the "Education Section" on the Federal return under "Deductions & Credits" or a contribution on the state return. 

Also, if this is a 1099-Q for a distribution used for education, it should be entered into the same TurboTax program that enters the 1098-T so that the TurboTax program can make the proper calculations. 

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