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- recording the earnings from a 1099-Q as non-taxable becuase they were all used to pay college expenses.
recording the earnings from a 1099-Q as non-taxable becuase they were all used to pay college expenses.
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JDVtaxes
Level 3
02-28-2021
04:03 PM
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My Clients' daughter is in college and she received a distribution from a state sponsored qualified tuition plan (1099-Q).
She is the recipient and the beneficiary.
Where in ProSeries can I mark those earnings as all used for education expenses?
I have used the education expense worksheets on her parents' return, and they qualified for education credits accordingly.
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1 Comment 1
PATAX
Level 15
02-28-2021
05:44 PM
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I may be wrong but usually if the earnings on 1099q were used for Education expenses it is non-taxable and therefore not reported on the tax return, and therefore there may be nothing to enter on proseries and that may be why you cannot find a place for this input.. just my opinion...
