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Form 1099-Q reports distributions and benefits from Coverdell education savings accounts and 529 plans.
The 1099-Q is reported on the recipient's tax return (the person whose Social Security number is on the form). If the funds went directly to the school, consider the student as the recipient, and if the student is your dependent, you should enter the 1099-Q on your return.
Here's how to enter your 1099-Q in TurboTax:
If you're using the mobile app, go here for mobile-specific instructions.
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Michael16
Level 4
HollyP
Employee Tax Expert
HollyP
Employee Tax Expert
HollyP
Employee Tax Expert
HollyP
Employee Tax Expert