My apologies that I'm confusing you.
There were no expenses or monies withdrawn from any of the accounts. All we did is roll/transfer four 529 accounts for our 4 grandchildren from one financial institution (American Funds) to another (Fidelity).
The original institution, American Funds, sent us one 1099-Q with 16 entries for the 16 funds we rolled over to Fidelity:
- Our 3 granddaughter's accounts have 5 funds each (shows as 15 lines on the 1099-Q).
- Our grandson has 1 fund (shows as 1 line on the 1099-Q).
Each of the 16 lines show the account numbers, gross distribution, earnings, basis, trustee to trustee transfer marked with X's, the distribution type and check if the recipient is not the designated beneficiary.
My issue is that Turbo Tax will only allow me to enter the information of 10 of the lines into Turbo Tax.
If I understand your last response correctly, since there were no taxable distributions, we don't need to report it on our income tax return.
If my understanding is incorrect, then how can I enter the additional 6 lines of fund transfer information into Turbo Tax if Turbo Tax database only allows 10 lines of information?
I can't thank you enough for trying to understand my issue and responding to it.
