KrisD15
Expert Alumni

Retirement tax questions

When you are doing your Federal Return, go to the Deduction & Credits section, 

next scroll down to the EDUCATION section

The 1099-Q can be entered there, as well as the expenses paid with the distribution. 

 

The education section can be tricky, if you know that the distribution was used for education expenses, such as Room and Board, and you know that you are not eligible for an education credit, you can simply skip entering the 1099-Q.  If, however, you are unsure about how to use the distribution, expenses, and applying for a credit, enter the Education Forms (1099-Q and 1098-T) into the Education Section of TurboTax. Please enter the 1099-Q FIRST (before a 1098-T).

 

IRS Pub 970 covers a lot of interesting information about 529 Distributions, the 1098-T, and Education Credits. 

 

 

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