I received 1099-Q form after I filed my tax return. I did not use the distribution for education costs, but the Earnings (box 2) were slightly negative. Do I need to amend my tax return or otherwise take action to report the amount?

bob15 — Tue, 04 Jun 2019 20:04:42 GMT

I believe having negative earnings means that I do not owe any taxes on the amount, nor do I need to take any action to report the value. I don't care to report the loss to receive additional refund money because the amount was so small.

If it were taxable, you would only pay tax on the earning...

KrisD — Tue, 04 Jun 2019 20:04:43 GMT

If it were taxable, you would only pay tax on the earnings.

If there were no earnings, there would be no tax.

topic I received 1099-Q form after I filed my tax return. I did not use the distribution for education costs, but the Earnings (box 2) were slightly negative. Do I need to amend my tax return or otherwise take action to report the amount? in After you file

I received 1099-Q form after I filed my tax return. I did not use the distribution for education costs, but the Earnings (box 2) were slightly negative. Do I need to amend my tax return or otherwise take action to report the amount?

If it were taxable, you would only pay tax on the earning...