2015 Oklahoma: 1099-Q
In Oklahoma, when an individual makes a non-qualified withdrawal of contributions and earnings from 529 college savings accounts, those amounts may be included in income.
Certain taxpayers, who received a form 1099-Q, may have filed an incorrect Oklahoma tax return.
TurboTax has fixed this issue.
How to tell if you may be impacted:
You may be affected if ALL of the following apply to you:
- You filed Oklahoma tax return prior to March 17, 2016 AND
- You received a form 1099-Q AND
- All or a portion of the amounts on the 1099-Q were included on your federal 1040, line 21 AND
- That amount is on your Oklahoma Schedule A-H, Section 511-B, line 6 (Recapture of Contributions to Oklahoma 529 College Savings Plan and Oklahoma Dream 529 Accounts).
If you are affected, you may have overpaid your state tax. You may need to amend your 2015 Oklahoma return.
To amend your return:
- Follow these amend instructions for the TurboTax Online product.
- Follow these amend instructions for the TurboTax CD Download product.
- After you make the changes to your tax return, you will need to mail a copy of your amended state return.
- Your printed return will include instructions on how and where to mail it.
If you need to contact us, please use the phone number in the email from TurboTax and tell the representative you’re calling about the 2015 Oklahoma: 1099-Q.