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I am unable to file because other income statement qualified tuition program distributions needs review i took money out of a 1099-q for my son to use on a car and took it out into my name. I knew i

I’m fine with being taxed but how do i get past the review?
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1 Best answer

Accepted Solutions
SusanY1
Expert Alumni

I am unable to file because other income statement qualified tuition program distributions needs review i took money out of a 1099-q for my son to use on a car and took it out into my name. I knew i

There isn't a workaround at this time. The update should be ready within a few days, but until the program is updated to reflect the new laws, you will not be able to file with the distribution from the qualified tuition plan on your tax return.  

 

There is one other option if you need to file immediately.  That would be to remove the distribution and file now, then amend the return to add the distribution and pay the tax after the program update (and after the amended return is available, which is typically mid-February.)

 

If you choose to file now and amend later, be sure to submit the amendment and pay the additional tax before April 15, 2020, to avoid any late payment penalties and interest.  

 

 

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1 Reply
SusanY1
Expert Alumni

I am unable to file because other income statement qualified tuition program distributions needs review i took money out of a 1099-q for my son to use on a car and took it out into my name. I knew i

There isn't a workaround at this time. The update should be ready within a few days, but until the program is updated to reflect the new laws, you will not be able to file with the distribution from the qualified tuition plan on your tax return.  

 

There is one other option if you need to file immediately.  That would be to remove the distribution and file now, then amend the return to add the distribution and pay the tax after the program update (and after the amended return is available, which is typically mid-February.)

 

If you choose to file now and amend later, be sure to submit the amendment and pay the additional tax before April 15, 2020, to avoid any late payment penalties and interest.  

 

 

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