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I found the 11704 is in the esa /529 area, is this amount withdrawn for college a taxable amount? it shows under misc income but the cost basis is the same as the withdra

 
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Accepted Solutions
Hal_Al
Level 15

I found the 11704 is in the esa /529 area, is this amount withdrawn for college a taxable amount? it shows under misc income but the cost basis is the same as the withdra

If you have a form 1099-Q and the box 1 and box 3 amount are the same (which means that box 2 is blank or zero); just don't enter the 1099-Q at all. it's meaningless.

You are correct, you should not be seeing any taxable income. You've entered something wrong. Go back & delete the 1099-Q.

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1 Reply
Hal_Al
Level 15

I found the 11704 is in the esa /529 area, is this amount withdrawn for college a taxable amount? it shows under misc income but the cost basis is the same as the withdra

If you have a form 1099-Q and the box 1 and box 3 amount are the same (which means that box 2 is blank or zero); just don't enter the 1099-Q at all. it's meaningless.

You are correct, you should not be seeing any taxable income. You've entered something wrong. Go back & delete the 1099-Q.

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