? ON 1099-Q Yr 2006

[Bob Ft Wayne]

Gross Distr $3000./
Earnings $742.
Basis $2258

TP pd $2688.for higher education exp. for son.

What is taxable amt of earnings

Thanks in advance for your help

[BP.]

Welcome, Bob Ft Wayne. Were any tax credits or deductions taken for the tuition paid? Need to know that first. Check out 2006 pub 970 p. 50 for the formula you need:

http://www.irs.gov/pub/irs-pdf/p970.pdf