KrisD15
Expert Alumni

Get your taxes done using TurboTax

No, the IRS says you should not report distribution that are not taxable. 

 

Additionally, I assume the 2022 Tax Year 1099-Q reported sales because it was rolled over into a different account. 

Once distributions are used for education purposes, only one 1099-Q should be issued with Boxes 1-3 reported. 

 

Also, there are some changes planned for Education Savings Accounts, like the ability to roll funds into a Roth Account (with restrictions). Ask your plan administrator for details, or read next year's Pub 970 for the changes to be explained further. 

 

According to the IRS:

“Don't report tax-free distributions (including qualifying rollovers) on your tax return.” 

 

Pub 970

 

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