Discussion:1099-Q Payments from a Qualified Education

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Discussion Forum Index --> Tax Questions --> 1099-Q Payments from a Qualified Education

Birdman (talk|edits) said:

7 February 2007
I'm looking at one for the first time. I read the instructions which say to report earnings as other income if not used for tuition. This person did use everything distributed for dependent's tuition. So, do I do nothing? I don't want no stinking notices because I didn't report the info somewhere.

Thanks folks.

Solomon (talk|edits) said:

7 February 2007
See Publication 970 because it is possible that if the earnings (assuming some appear on the 1099-Q) are high enough there might be some taxable income on part of the earnings - especially if there was a scholarship or other aid involved.

Birdman (talk|edits) said:

7 February 2007
thanks Solomon. I like the link to the pub.

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