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March 7, 2020
Question

I am a full time student. Do I have to enter a 1099Q if the gross distribution was $864 and the earnings were $18? I have a part time job & don't want to pay for deluxe.

  • March 7, 2020
  • 2 replies
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2 replies

March 7, 2020

If the gross distribution is totally used for education expenses, then you do not have to report the 1099-Q in your tax return.

 

Otherwise, you'll have to upgrade and report it.

 

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March 7, 2020

do you have at least  $864 of college expenses? if yes, no need to file the 1099Q.

 

(it could be as simple as looking at the 1098T and if Box 1 minus box 5 is at least $864, you are home free!