SusanY1
Expert Alumni

Deductions & credits

You are only required to enter the 1099-Q data into TurboTax if you need to report a taxable distribution, and you are entering it to pay that tax

 

In your situation, delete Form 1099-Q from TurboTax and maintain records to support the rollover to the 529 plan with your tax returns for at least (3) years.  That will provide the support that you need in the event of any questions about the rollover. 

 

You can refer to the Instructions to Recipient on Form 1099-Q: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution.

 

Also see: Guide to IRS Form 1099-Q.

 

 

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