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1099-Q Processing Diagnostic

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1099-Q Processing Diagnostic

DHWEA

Earnings amount on 1099-Q does not check qualified education expenses listed on 1099-T. It results in 10% tax on earnings even though sufficient qualified education expenses are listed on 1099-T. The work around is to enter earnings into the "Amount Excluded From the 10% Tax" field on the 1099-Q input screen.  This probably is the cause of many errors.  The solution is to provide better instructions/diagnostics or fix the software to check 1099-Q input against 1099-T qualified education expenses. 

Thanks for the idea. We are changing the status to "Open for voting" since it is no longer considered "New". If you have any questions on the life cycle of an idea, check out our Idea Getting Started Guide for more information.

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IntuitGabi
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Community Manager
Status changed to: Open for voting

Thanks for the idea. We are changing the status to "Open for voting" since it is no longer considered "New". If you have any questions on the life cycle of an idea, check out our Idea Getting Started Guide for more information.

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