Hello, my son committed suicide last July, and he had a 529 educational plan. I received a 1099-Q from Edward jones , but the values are out of balance.

I was told to enter it as a 1099 Misc, but now I am confused.

576

Level 15

Apr 15, 2025 5:08:50 AM

The values being out of balance is usually just a rounding error. Change either box 2 or box 3 by $1 to balance it (box 2 + box 3 = box 1).

Q. I was told to enter it as a 1099-Misc, but now I am confused.

A. Stick with the 1099-Q interview. It goes on the same line (8z of schedule 1), either way. But the death of the beneficiary is a penalty exception, which TT will handle if you enter it as a Qualified Tuition Plan distribution, in TurboTax.

In TurboTax (TT), enter at:

Federal Taxes Tab (Personal for H&B version)

Deductions & Credits

-Scroll down to:

--Education

--ESA and 529 Qualified Tuition Programs (1099-Q)

Why sign in to the Community?

Hello, my son committed suicide last July, and he had a 529 educational plan. I received a 1099-Q from Edward jones , but the values are out of balance.