taxguy057 Posted February 4, 2012 Report Share 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 Link to comment Share on other sites More sharing options...
Hahn1040 Posted February 4, 2012 Report Share 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 Link to comment Share on other sites More sharing options...
LindaB Posted February 4, 2012 Report Share 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 Link to comment Share on other sites More sharing options...
taxguy057 Posted February 4, 2012 Author Report Share Posted February 4, 2012 ok thx!! ur AWESOME!!! :spaz: Quote Link to comment Share on other sites More sharing options...
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