AmyC
Expert Alumni

Retirement tax questions

The 1099-Q should not be entered if all of the money went to qualified expenses. The 1099-Q should only be entered if there is a tax consequence. It is an informational form, not a tax form.

 

From   IRS Publication 970, Tax Benefits for Education:

If the entire 1099-Q went to qualified expenses, room and board, tuition, etc then you do not need to enter the form. Tuition paid for the first 3 months of the next year also qualify, see page 12, What Expenses Qualify, and page 52 for qualified distributions

 

@Anonymous 

@feiwenw 

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