BulldogTom Posted September 13, 2020 Report Posted September 13, 2020 Parents have a 529 plan with son as designated beneficiary. He is not a dependent on their return. Distribution taken from the 529 plan to pay for his college education. How do I report the 1099Q in ATX to reflect this fact pattern. I went Add Forms and selected1099Q and I got a sales pitch for and upgrade (which pisses me off). Since it was all used for the designated beneficiary's education, do I need to report this on the parent's return? If so, where? How? Thanks Tom Modesto, CA Quote
Lion EA Posted September 13, 2020 Report Posted September 13, 2020 Did you read the Instructions for Recipient on Form 1099-Q? Look at the first paragraph: https://www.irs.gov/pub/irs-pdf/f1099q.pdf 1 Quote
BulldogTom Posted September 13, 2020 Author Report Posted September 13, 2020 1 hour ago, Lion EA said: Did you read the Instructions Nope. Read the Master Tax Guide, but not the form instructions. Do I feel stupid.... Thanks Lion. Tom Modesto, CA Quote
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