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Do I need to report my 1099-Q if 100% of the distribution was a qualified educational withdrawl?

My son and I both received 1099-Q's. He is my dependent. All distributions are qualified. Do I need to enter it into TT?
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RobertB4444
Employee Tax Expert

Do I need to report my 1099-Q if 100% of the distribution was a qualified educational withdrawl?

Nope.  If all distributions are qualified you're all set.

 

Here's TurboTax guidance on the issue.

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2 Replies
RobertB4444
Employee Tax Expert

Do I need to report my 1099-Q if 100% of the distribution was a qualified educational withdrawl?

Nope.  If all distributions are qualified you're all set.

 

Here's TurboTax guidance on the issue.

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

Do I need to report my 1099-Q if 100% of the distribution was a qualified educational withdrawl?

Thanks for you prompt and concise response! I am happy to be able to avoid the extra work. I think the Turbo Tax software should as the question "is all of your distribution on the 1099-Q a qualified educational expense?" If it did that, and stated that the 1099Q did not need to be entered, it would have saved a lot of time, frustration and fretting. I saw my tax bill jump up when I entered the 1099-Q and new something was wrong. Thanks! 

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