pschack26
New Member

Retirement tax questions

Thank you for response

 

To be specific, My child has a  1099q with Gross Dist of  $23k  - $20k was used for qualified expenses. $3k was used for unqualified expenses and the earnings on the $3k was $2k. When I try to put the $23k in turbo tax I get a much higher tax as he should only pay tax on the $2k of earnings.  Can I just report the $3k distribution ? There does not seem to be a way to divide the 1099q .

 

Thank you