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willmcnutt
New Member

If I take a non qualified distribution from a 529 account, who has to report the income and 10% penalty? The beneficiary of the 529 or the owner of the 529?

 
1 Reply
Critter
Level 15

If I take a non qualified distribution from a 529 account, who has to report the income and 10% penalty? The beneficiary of the 529 or the owner of the 529?

The person who's SS# as the recipient  on the 1099-Q is responsible for the taxes and must report it on their return ... ask the plan administrator if you don't know who that is. 

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