M aximum Refund Guarantee / Maximum Tax Savings Guarantee - or Your Money Back – Individual Returns: If you get a larger refund or smaller tax due from another tax preparation method by filing an amended return, we'll refund the applicable TurboTax federal and/or state purchase price paid.This guarantee is good for the lifetime of your personal, individual tax return, which Intuit defines as seven years from the date you filed it with TurboTax. 100% Accurate Calculations Guarantee – Individual Returns: If you pay an IRS or state penalty or interest because of a TurboTax calculation error, we'll pay you the penalty and interest.Whichever way you choose, get your maximum refund guaranteed. Just answer simple questions, and we’ll guide you through filing your taxes with confidence. File your own taxes with confidence using TurboTax. Or you can get your taxes done right, with experts by your side with TurboTax Live Assisted. Let an expert do your taxes for you, start to finish with TurboTax Live Full Service. ![]() Your adjusted expenses are $8,000-which means you don’t have to report any education program distributions on your tax return. For example, suppose your qualified education expenses are $10,000, you receive a $2,000 Pell grant and boxes 1 and 2 of your 1099-Q report a gross distribution of $8,000 and earnings of $1,000. Your adjusted expenses are equal to the total of your qualified education expenses minus other tax-free assistance you receive, such as scholarships and Pell grants. However, if annual distributions exceed your adjusted qualified education expenses, you may need to report some of the earnings reported in box 2 as income on your tax return and pay an additional 10 percent tax on it as well. For most qualified education program beneficiaries, the amounts reported on the 1099-Q aren’t reported on a tax return.
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