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How do you remove the tax liability created from entereing a 1099-Q?

gkcapture
Level 1

The earnings on the 1099-Q often become taxable when an AOC is applied to a students tuition 1098-T. How do you make that disappear?

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Just-Lisa-Now-
Level 15
Level 15

You need enough educational expenses to cover the 1099Q income as well....if you scroll down the Student Educational Expense worksheet to parts VI and VII you can add additional expenses and allocate to the 1099Q 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

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1 Comment 1
Just-Lisa-Now-
Level 15
Level 15

You need enough educational expenses to cover the 1099Q income as well....if you scroll down the Student Educational Expense worksheet to parts VI and VII you can add additional expenses and allocate to the 1099Q 


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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