1099Q distribution states does not add up but it does?

[MarilynG1]

If your 1099-Q distribution was entirely used for qualified education expenses (including room and board), you don't need to enter it in TurboTax.  Keep records of what expenses were paid with the distribution.

Here's more detailed info on Form 1099-Q.

@august051981 

[j0mike1993]

Even if you used your ESA distribution for education expenses, you should still enter your 1099Q with expenses especially if you’re receiving any education credit. Turbo Tax calculates your cost basis and earned income every year. You will eventually have to go back and figure out. I do not recommend skipping this step. Your financial institution does not report those amounts on your 1099Q, you get them from your tax return. Years ago turbo tax told me I didn’t have to enter 1099Q since I used distribution for education expenses. When I rolled over, I had to go back and recalculate. 

[MarilynG1]

If you rolled over your some or all of your balance in a 529 plan, your financial institution should be able to tell you your earnings, which is the only amount that may be taxable.

They should also have records of your contributions made (if you don't), which is your Cost Basis.  Box 2 (earnings) and Box 3 (Cost Basis) should add up to Box 1 (Distribution) amounts.

Here's more detailed info on Form 1099-Q.

@j0mike1993

[j0mike1993]

I have been receiving 1099Q’s for distributions for education expenses for over a decade and they have NEVER had an amount for box 2 and 3. In the fall I had to roll one over because my son was turning 30. I researched with Vanguard for hours, and the final answer is they don’t keep track of basis or earnings. All my funds (4 kids) basis’ are calculated on our tax return and forwarded to the next year’s return. The calculation is taken from publication 970 and factors in expenses + taxable amount. There is no way the financial institution would have access to your basis without you annually notifying them. That is why my 1099Q’s box 2 and 3 have always been blank. After rolling over ESA, I had to write a letter to give them my basis from my taxes. Turbo Tax needs to remove the mandatory input for boxes 2 & 3 because I can’t proceed without inputting. I thought I could probably figure out since I’ve been doing my taxes for years, but that’s why I buy Turbo Tax, so they can do the calculations. I’m a little concerned to put in an amount that isn’t on my 1099Q.