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I always have an awful time with this form in Taxpayer's name. Funds used for dependent's tuition. I entered the 1099-T which could not be used because of too high income. But a portion of the earnings are being taxed, and I don't know how to get rid of it. Tuition was very high, it ate up all the 1099Q funds.
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That worksheet section is so clunky....scroll down the Student Info Worksheet to section VIII I know I always have to tinker around in there, putting figures in the columns, to get rid of the 1099Q taxability.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Clunky is the correct description. I added cost of books, computer,etc., and it got rid of the excess.
What do you do when Grandpa bought the 529 plan, but the student is not his dependent.
I do detest this clunky 1099Q.
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Theres a button for that! LOL
Scroll down the 1099Q worksheet, you'll find a button to Quickzoom Other Student Expenses
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪