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?
01527
1 Replies
Critter
Level 15
Jun 6, 2019 7:52:19 AM
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.