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View Full Version : 1099-Q and TaxCut basic


jillrenee15
Feb 11, 2009, 11:59 PM
I am using TaxCut basis to file, and don't know how to enter the amount we took from a 529 not used for education expenses. It asks if you received a distribution from a coverdell or QTP plan and did NOT use it for educational expenses. I checked yes. Then is talks about the 10% penalty. Then it asks to enter the total amount that can be excluded. I put $0. Did I do this correctly?

AtlantaTaxExpert
Feb 26, 2009, 03:48 PM
It sounds correct, but I cannot be sure without looking at the documents.