1099Q When entering the form it asks which student its for. It's for both kids but it won't allow me to pick both

1099Q When entering the form it asks which student its for. It's for both kids but it won't allow me to pick both - just one or the other. What do I do?

posted

There should be a separate 1099-Q for each recipient; and each 1099-Q should be entered into TurboTax separately. So choose which kid/student is listed in the "RECIPIENT'S name" field (and which kid matches the "RECIPIENT'S TIN") on the 1099-Q you are entering.

There can only be one beneficiary for a 529 plan. So the distribution on a 1099-Q only has one student. If you used the money for two students, then part of the distribution is not qualified for favorable tax treatment.