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My 1099Q box 1 shows the total amount of distributions minus the college tuition refund. What can I enter in TT?
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Enter the 1099-Q exactly how it appears. Make sure the amounts in each box on the form matches the same amounts and box entries in TurboTax.
Next, enter tuition information reported on your 1098-T. Your 1098-T is usually available on your school's portal. It may be listed under tax documents. Then enter ALL education expenses in the 1098-T section in TurboTax. This includes tuition, books, room & board, supplies, and fees.
As long as the education expenses (after grants or scholarships are deducted) are equal to or more than the 1099-Q total distribution, then you will not pay tax on the 1099-Q distribution.
Follow these TurboTax steps for entering your 1099-Q:
- "Open your return, if it's not already open.
(To do this, sign in to TurboTax and select the Take me to my return button.) - Search for "1099q" or "1099-q" (upper or case "Q" is okay) and then select the "Jump to" link in the search results.
- Follow the onscreen instructions to report the 1099-Q. If you land on the Form 1099-Q Summary screen: Select Add a 1099-Q. If using Free Edition: Follow the prompts to upgrade to Deluxe after you've entered your 1099-Q.
(if using the mobile app, tap here for alternate instructions)"
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