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    jillrenee15's Avatar
    jillrenee15 Posts: 103, Reputation: 11
    Junior Member
    		  
    #1

    Feb 11, 2009, 11:59 PM
    1099-Q and TaxCut basic
    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's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

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