I used my ESA college money for only non-qualified expenses in 2025 and received a 1099Q with empty fields for boxes two and three. The IRS Help says not to enter anything in boxes two and three if the 1099Q form is blank and instead to report the fair market value from box 7 on the 1099Q. TurboTax is not allowing me to continue with empty fields for two and three. How should I continue?
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Enter Zero in those amounts instead. Also make sure you've indicated that the 1099Q is for a ESA.
Entering zero does not work, leaving it blank does not work, and these is no way to enter the $ amount for the FMV and the letters FMV as it says to do in the Caution section of the IRS publication. It says, "You MUST report the fair market value (FMV) as of the end of the year in box 7. Label the amount "FMV". I can go no farther in the process. It does not say where to enter box 7.
Where do you "indicate that this is for an ESA"?
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