taxguy057 Posted February 4, 2012 Report Posted February 4, 2012 Got a client who received a Form 1099 Q for a gross distribution of 400.00 from her son's account. Where do I show on 1040? There is noe entry form in list for it so I know that means its hidden somewhere on 1040 and so busy now don't feel like searching for it now. ( I know I'm wrong! ) Any and all help will be greatly appreciated!! Thx!! TG Quote
Hahn1040 Posted February 4, 2012 Report Posted February 4, 2012 If it was used for qualified education expense, it is not taxed and not reported on the return. If it was NOT used for qualified ed exp, then it goes on line 21. If it is taxable, then it may also be subject to the penalty. Quote
LindaB Posted February 4, 2012 Report Posted February 4, 2012 There is a place in the drop down list for line 21 of the 1040 to put this (assuming you've determined that it's taxable). Quote
taxguy057 Posted February 4, 2012 Author Report Posted February 4, 2012 ok thx!! ur AWESOME!!! :spaz: Quote
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