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Entering 1099-Q And Ensuring Non-Taxable
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tccpg289
Level 4
04-08-2025
09:34 AM
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Taxpayer (parent, MFJ) received a 1099-Q for a distribution, of which the funds were used for education purposes.
It was for their college student.
What is the proper flow of forms in ProSeries to ensure both the return of principal and earnings are not taxed? Is it required to have a 1098-T as well, or any other education cost documents for that matter?
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1 Comment 1
TaxGuyBill
Level 15
04-08-2025
06:47 PM
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If you certain that the qualified expenses are more than the 1099-Q, there isn't really any need to enter it anywhere. But be prepared to show the qualifying expenses if/when the IRS sends a notice asking about it.
