1099-q

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  • gman
    Senior Member
    • Dec 2005
    • 676
    #1

    1099-q

    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
    Tags: None
    • Dusty2004
      Senior Member
      • Dec 2009
      • 374
      #2
      Hm...

      Originally posted by 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
      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

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