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Child's 1099Q shows me as recipient. Distribution used to pay housing/food expense. How do I enter expenses into turbotax to not get charged tax on distribution?

Distribution was under my SSN. I put the amount in TurboTax and tax owed went up substantially.  How do I get the distribution applied to educational expenses (food and housing) so that income tax and 10% penalty is not applied by TurboTax? Where do I enter educational expenses? TurboTax only asks about MY educational expenses, which were 0.
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1 Reply
KrisD15
Expert Alumni

Child's 1099Q shows me as recipient. Distribution used to pay housing/food expense. How do I enter expenses into turbotax to not get charged tax on distribution?

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.”

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