KrisD15
Expert Alumni

Retirement tax questions

Don't enter the 1099-Q if it was all used to pay for Room and Board for the student.

Keep the 1099-Q and receipts for room and board with your tax files. 

 

According to the IRS:

“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.”

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