1099-q

[gman]

Taxpayer recieved distribution form 1099-q showing distribuiton, earnings and basis for 09. Taxpayer plans to use the money for childs college in 2010. Can earnings be excluded on 09 return??

Texas tomorrow funds acct.
.
Thanks

[Dusty2004]

Hm...

Taxpayer recieved distribution form 1099-q showing distribuiton, earnings and basis for 09. Taxpayer plans to use the money for childs college in 2010. Can earnings be excluded on 09 return??

Texas tomorrow funds acct.
.
Thanks

I think they are out of luck. Since they took it out in 2009 and did not use it for college in 2009 then I think they are out of luck.

Let's see what others have to say.

Dusty