I entered two 1099-Q forms for my daughter.
The first came up with $4274 being taxable to the recipient (my daughter - who was listed on the 1099-Q).
For the Second one - I was listed as the Recipient - but the Designated beneficiary was again my daughter.
Turbo tasks asked me who's shown as the Recipient - I entered 'Someone Else not listed here'. The who is the student - I entered my daughter. Box 6 'Recipient is not designated Beneficiary' was ticked on form 1099-Q.
My daughter is my dependent - but she files her own taxes - including her education expenses.
For the second 1099-Q it was also taxable - 4879 being taxable to the recipient. I guess that would in this case be ME.
Now the question is this the total taxable amount is $9153 - but only $4274 shows on my daughters returns on her Schedule 1 etc.
1. She was technically the recipient of all the money - even if box 6 was marked on the second form -
How do we pay the taxes on that missing $4879? How to I either get it onto her Schedule 1 or how to I report it on my own form ?
The Student Info Wk does show $9153 as earnings taxable to recipient!!.
