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1099-Q Box 2 Empty

On our 1099-Q notification, Box 2 is blank.  The state education contract was canceled by us because of unused college credits.  Does that mean Box 2 can be considered "zero"?  Boxes 1 and 3 have the same amount.

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5 Replies

1099-Q Box 2 Empty

In the TT program do NOT fill in zeros when boxes on the form are blank ... simply leave them blank in the program as well. 

1099-Q Box 2 Empty

So there is no calculation or a mistake on the part of the issuer?  I'm confused because I thought it is income returned that was previously invested before taxes.  I did see that the income could be classified as a return of investment which may have had no gain.

KrisD15
Expert Alumni

1099-Q Box 2 Empty

If Box 1 and Box 3 are the same amount, there were no earnings in the distribution.  

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1099-Q Box 2 Empty

That's what I needed to know!  Thank you!

1099-Q Box 2 Empty

TT would not let me file unless there was a number in box 2.  Despite your advice, I had no choice but to enter a "0".  If it was to be left blank, then TT has an error.  If the "0" doesn't matter, then all should be well.  I hope.

Thank you.

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