My client received a 1099Q, which is taxable as he did not use it for education. Lacerte program is not calculating it as taxable. Suggestions?
This discussion has been locked. No new contributions can be made. You may start a new discussion here
I believe it is only taxable to the extent that the distribution is in excess of Basis.
With that being said, is the program still not doing it correctly?
If it is still not doing it correctly, hopefully a Lacerte user will come by and give some input (I use ProSeries, so I can't help you with the Lacerte-specific things).
It is still not working correctly and I can't get customer support to respond to my email from 7 days ago. They are supposed to respond in 2 days. Not!
You have clicked a link to a site outside of the Intuit Accountants Community. By clicking "Continue", you will leave the community and be taken to that site instead.