1130051
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

I am filing my 1099Q form for education fund and I am listed as both the FBO and beneficiary..is this form considered taxable income?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies
MinhT1
Expert Alumni

I am filing my 1099Q form for education fund and I am listed as both the FBO and beneficiary..is this form considered taxable income?

The earnings on a 529 distribution are taxable and subject to a tax penalty if the distribution is not used to pay for education expenses. In this case, you have to enter the form 1099-Q on your tax return.

 

If the distribution is used entirely for education expenses, there is no need to enter the forn.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
Juliocsh
Returning Member

I am filing my 1099Q form for education fund and I am listed as both the FBO and beneficiary..is this form considered taxable income?

Hola hice los impuestos en turbotax del año fiscal 2018 este año 2019 todo bien asta ahí ahora quiero hacer los del año fiscal 2019 pero la aplicación no me da ninguna opción de poder hacer la nueva declaración que puedo hacer

DanielV01
Expert Alumni

I am filing my 1099Q form for education fund and I am listed as both the FBO and beneficiary..is this form considered taxable income?

Si está tratando de usar la aplicación de 2018 para hacer la declaración de 2019, no se puede.  Necesita comenzar la declaración de 2019 en un prgrama de 2019.  Vea nuestra página web en español para comenzar en línea o seleccionar el programa que instale a su computadora adecuada para usted:  https://turbotax.intuit.com/personal-taxes/en-espanol/

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question