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1099-Q and College Expenses

Forum|Forum|7 years ago
June 4, 2019
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I'm trying to enter a 1099-Q that is in my son's name. Since it's in his name I'm trying to enter it on his taxes. However, since the box is checked on his tax info indicating that he can be claimed on someone else's taxes, i.e. mine, he is unable to enter any college expenses because he can't deduct them. I understand that he can't deduct the college expenses, but if he can't enter them, there is no way to reconcile the college expenses against the 1099-Q and Turbo Tax then thinks that the 1099-Q distributions which were used for college expenses are taxable. He has other income, but not enough to be eligible to be taxed and he needs to file to be able to receive a refund. I can't file the 1099-Q on my taxes because it's in his name and even if I could, Turbo Tax won't let me enter college expenses as I'm not eligible a deduction due to my income.

TurboTax Deluxe Windows

Best answer by Hal_Al

Just don't enter the 1099-Q, if you have enough college expense to offset the box 1 amount. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms.

Hal_Al

Employee

TurboTax (TT) will let you enter educational expenses. The first education screen just warns you that he can't claim a credit or deduction. Press continue and it will let you enter expenses.
Enter the 1099-Q before you enter the 1098-T. TT assumes that the parent has claimed a tuition credit and will allocate some of the expenses for the credit. You will get a screen to override the assumed amount. You will not get that screen if you enter the 1098-T first and will confused as to why the 1099-Q appears taxable. You have find your way back there (comment back if you need detailed instructions).

Best advice: just don't enter the 1099-Q if you know it's not taxable.

Hal_AlAnswer

Employee

Just don't enter the 1099-Q, if you have enough college expense to offset the box 1 amount. When the box 1 amount on form 1099-Q is fully covered by expenses, TurboTax will enter nothing about the 1099-Q on the actual tax forms.