I have a question about the 1099-Q form. In 2023, I received a 1099-Q form that listed my daughter as the “recipient” for payments from the ESA account. There were no amounts listed for payments. We did use this ESA account to pay for her education (tuition, Room & board) while she is at the university.
I was told last year that I did not need to enter this information into TurboTax because I was NOT the recipient. All money taken out of the ESA was used directly for her education.
This year- 2024, I received a 1099-Q form from the 529 Savings Plan (the previous ESA was converted to this 529). This form does show amounts of “gross distribution” and “earnings.” I’m listed as the “recipient” for this form. However, a box is checked indicating “If this box is checked, the recipient is not the designated beneficiary.”
Do I need to enter the distribution and earnings amounts into TurboTax if all amounts distributed from this plan were used for my daughter’s education (i.e., not used as addition income for me)?
