Where do I enter a 1099QA from ABLE account?

[fgonzalez1952]

Where do I entera 1099QA from Able account

[taxshack]

Distributions are tax free if they were used for qualified disability expenses. 

https://www.irs.gov/government-entities/federal-state-local-governments/able-accounts-tax-benefit-fo...

[fgonzalez1952]

Hello it wasn’t use for disability expenses it was inherited from her deceased parent. So where I do enter the 1099QR? With a gross distribution let’s say $10,000 and basis of $10,000, no earnings?

[taxshack]

Enter the taxable portion of the distribution on the Other Income Statement on line Q.  Then enter it in Part II of form 5329.

[fgonzalez1952]

Thanks but what do you do with Basis of the same amount? It is taxable to the taxpayer if there was no earnings? Thanks for your help 

[taxshack]

Only earnings are taxed. I suggest looking at pub 907 in the section on Able accounts for a good overview.

[fgonzalez1952]

Thank you, already did. Thanks again 

[taxshack]

I'm happy I was able to give you the answer.  Good luck with the final stretch of the season.