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1099-q? So - for 2015 I got a 1099-q with the 'corrected'

Customer Question
1099-q? JA: The Expert will know...
1099-q?
JA: The Expert will know what to do. Please tell me everything you can so the Expert can help you best.
Customer: So - for 2015 I got a 1099-q with the 'corrected' box checked: they never sent an erroneous one prior. It had Gross Distribution of $0.00 and blank earnings and basis box
JA: Is there anything else the Expert should be aware of?
Customer: same bank this year sends an 'uncorrected' 1099-q with a $1137 distribution, $0.00 earnings and blank basis
Submitted: 7 months ago.Category: Tax
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Customer reply replied 7 months ago
anyway: the way the IRS Pub says to calculate the answer is impossible to accomplish mathematically: divide by 0
Answered in 3 hours by:
4/18/2017
Tax Professional: Brian Michels, Certified Public Accountant (CPA) replied 7 months ago
Brian Michels
Brian Michels, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 162
Experience: Partner at Michels & Hanley CPAs, LLP
Verified

Hello. My name is ***** ***** I'll be the Expert assisting you today. I look forward to helping you with your issue. With regards ***** ***** 1099-Q for 2016 did you incur educational expenses in excess of $1,137 for yourself, spouse or dependent child? If so, then when completing the education credits you would reduce the higher education costs by the amount of proceeds received from the 1099-q to arrive at the total qualified higher education costs.

I hope I’ve provided the information you were seeking. If you are happy with my service, your 5-star rating at this time is most welcome. If you need more help, please let me know so l can continue to assist you.

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Brian Michels
Brian Michels, Certified Public Accountant (CPA)
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