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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProConnect Hot Topics.
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- Re: 1099 Q taxable portion. should i file?
1099 Q taxable portion. should i file?
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AQUI
Level 2
07-03-2020
03:30 PM
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the student received a 1099 Q that gives a portion of it as taxable ($1,600). This is his only income besides ss. This amount is not seeded to 1040. Is the system not sowing the amount because he is not require to file? Should the amount appear in 1040 anyways? Thanks
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1 Comment 1
George4Tacks
Level 15
07-04-2020
12:24 PM
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When you input the 1099 Q you need to input -1 as the education expense. Lacerte uses -1 to represent zero (0). Inputing a 0 is the same as leaving the input blank. Dumb, but that is something you need learn to use this program. That input will force the taxable portion to show up as income and you can then e-file.
Answers are easy. Questions are hard!
