Feb 8, 2025 · Solved: I received a 1099-T (Tuition Statement). Where do I report this information on Turbo Tax? US En .

Apr 8, 2022 · income limit on 1099-t Yes, there are income limits for claiming an education credit. To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less for single filers or $160,000 or less for married filing jointly.

Jun 7, 2019 · Where do I File a 1099-T Form Topics: TurboTax Free Edition Online; posted ‎June 7, 2019 4:10 PM. last ...

Mar 5, 2025 · My son (non-dependent due to gross income over $5,050) has a 1098-Q from our 529 plan distribution (I am the owner) and a 1098-T from his qualifying school that we used to pay for his undergraduate eduction in 2024. Both the 1098-Q and the 1098-T have the exact same gross distribution (for the 1099...

Mar 8, 2024 · How to generate an American Opportunity Tax Credit by declaring $4,000 of 529 money as taxable. 1099-T, 1099-Q, AOTC Hello! I am again so confused in Turbo Tax with AOTC and 529 issues related to realizing the maximum Education Credit for my daughter.

Code T indicates there is no penalty because an exception applies. Some financial companies use code T instead of code Q when reporting such distributions on Form 1099-R, but since you know that it has been more than 5 years since the Roth IRA was established, code T gets the same tax treatment as code Q, entirely nontaxable and reported only on Form 1040 line 4a.

Mar 28, 2024 · You can either. enter the 1099-Q and 1098-T into your program and let your program do the math. or. not enter the 1099-Q at all, then lower Box 1 on the 1098-T by the amount of the distribution IF NEEDED

Mar 7, 2024 · On a 1098-T with amounts only in Box 1 and Box 5, Box 7 checked, and Box 8 checked: 1. Where in Pub 970 (or any IRS publication or any TT doc) is information related to Box 7 and ramifications of checked vs unchecked? 2. What adjustments, if any, is the taxpayer REQUIRED to make to amounts in Box...

Mar 4, 2024 · When I enter the 1099-Q info, TT is saying that we have $8500 of taxable income, but it clearly has not taken into account nearly $13K of room and board (because there has been no prompt to enter the room and board). All 529 distributions were to my child and there were no scholarships. We do not qu...

Jun 6, 2019 · Many financial institutions, perhaps most, use code T for those over age 59½ even though you have met the 5-year requirement to make the Roth IRA distribution a qualified distribution, requiring you yourself to assert that you have met that requirement.