1099Q recipient differ from the recipient shown in the 1099Q issued

[mdktech24]

In the 1099Q that I've received from my son's 529 plan I'm listed as the recipient on the form, and I've indicated so when I answered the questions from TurboTax. However, the 1099Q form generated from TurboTax still shows my son as the recipient. Though, for Boxes A and B, TurboTax did checked the right boxes.  Box A, the designated beneficiary is the Dependent and Box B, who was the recipient of the distribution (Taxpayer).  Would this be an issue when IRS compares the 1099Qs from the 529 and TurboTax?

Is there a way for me to fix the 1099Q form manually in TurboTax?

[KrisD15]

No, not an issue.

It sounds like you are talking about the 1099-Q "TurboTax Document" included with your return. A copy of a 1099-Q does not get sent with a tax return. 

The IRS gets a copy of the 1099-Q from the financial institution that issued the distribution. The IRS might check to see if the distribution was reported, but it does not MATCH the boxes on a 1099-Q like they do for a W-2.

A, B. C. and D on that TurboTax document does not come from the 1099-Q, it comes from the answers you provide in the interview. 

Boxes 1 through 6 should match the paper Form 1099-Q you received. 

This document is used to calculate if there is any tax due on the distribution, but it does not get transmitted with your return.  

[mdktech24]

Thank you for the clarification. Just for my reference, it is possible to edit the TurboTax Document under Payments from Qualified Education Programs? I just like to keep the record correct. Though Boxes 1 to 6 matches, but the recipient does not match what is shown in the 1099Q form.

[KrisD15]

Are you saying that 

Line A indicates Dependent

Line B indicates Taxpayer

But the box titled "RECIPIENT'S name" (under PAYER'S federal identification number) lists the dependent? 

That box is linked to Line B, whichever you choose as the recipient for Line B should also go in the Recipient name box.

[mdktech24]

Yes, LINE A indicates Dependent and LINE B indicates Taxpayer. However, the box titled "RECIPIENT's name" lists the dependent. 

[KrisD15 · Accepted solution]

I assume you're using TurboTax Desktop. 

Please update the program and see if that changes. 

Select "Online" located on the top left, next select "Check for Updates" 

There have been updates for the education and 1099-Q sections as recently as this morning. 

I understand there may be more overnight. 

Please see if that box gets linked to Line B after the update. 

[mdktech24]

Yes, I'm using the Desktop version and it has the latest update. I will do another later today to see if the latest update will fix the problem. If not, that is fine since the form is just for my record. Thank you again for your help.

[MarilynG1 · Accepted solution]

If none of your 1099-Q distribution is taxable, you're not required to enter it in your return.  Just keep your records of what was paid with the distribution.

Here's more detailed info on Form 1099-Q.

@mdktech24