Question

How do enter only the non-qualified portion from a 1099-Q

Forum|Forum|6 years ago
February 5, 2020
1 reply
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I received a 1099-Q showing the total distribution from my son's 529 plan but approximately half is a qualified distribution (no tax due) and the remaining portion is non-qualified (tax due on earnings). How do I enter so I only get taxed on the non-qualified portion of what is shown on the 1099-Q

TurboTax Premier Online

KrisD15

Enter the 1099-Q and then enter the student's 1098-T which shows the education expenses you used the distribution for.

Remember that the person that needs to claim and pay the tax on the distribution is the person that made the distribution, the person listed on the 1099-Q. That could be the student OR the account holder.

Click here for How to enter a 1099-Q

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