Booger Posted March 30, 2009 Report Share Posted March 30, 2009 Client received a 1099-Q with $124.68 in the earnings box. All of the funds were used to pay higher education expenses. Does the $124.68 get reported on Line 21 of the 1040 as "Other Income"? Quote Link to comment Share on other sites More sharing options...
Booger Posted March 30, 2009 Author Report Share Posted March 30, 2009 Never mind....since all funds distributed were used to pay college expenses, then the earnings are non-taxable. Sorry for the stupid question. Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 30, 2009 Report Share Posted March 30, 2009 We all have them from time to time, stupid questions, that is. And I even have more than my share of stupid answers. Oh, it must be getting close to 4.15... Quote Link to comment Share on other sites More sharing options...
Catherine Posted March 30, 2009 Report Share Posted March 30, 2009 We all have them from time to time, stupid questions, that is. And I even have more than my share of stupid answers. Oh, it must be getting close to 4.15... Too close AND not close enough.... :blink: Quote Link to comment Share on other sites More sharing options...
Bart Posted March 30, 2009 Report Share Posted March 30, 2009 Too close AND not close enough.... 15 days 6 hours 44 mins Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 30, 2009 Report Share Posted March 30, 2009 Oh, geez, did you HAVE to do that? As someone once commented on Janitor Bob's avatar, that's scary! Quote Link to comment Share on other sites More sharing options...
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