Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

a student received a 1099Q it is making them pay on the earnings shouldn't it all be non taxable

Highlighted
Level 1

if a 1099q comes in the students ss number should he report it on his tax return and if so why is he being taxed on the earnings when all money was used for school

0 Cheers
1 Solution

Accepted Solutions
Highlighted
Level 15
Level 15
The 1099Q belongs on the parents return then.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post

4 Replies 4
Highlighted
Level 10
Level 10

could be you incorrectly entered it in the software. Need a lot more info to help

0 Cheers
Highlighted
Level 15
Level 15

You didnt include what software youre using, but if its ProSeries, you need to scroll way down the Student Information Worksheet to part VIII and input how much was used for school.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
0 Cheers
Highlighted
Level 1

he is being claimed on his parents return so should I fill out a student informational worksheet?

thank you

0 Cheers
Highlighted
Level 15
Level 15
The 1099Q belongs on the parents return then.

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

View solution in original post