Education

KrisD15 · ‎February 17, 2025

Yes, a 529 Account has an owner (usually the parent) and a beneficiary (the student).

Either can make a withdrawal.

The withdrawals are reported on Form 1099-Q.

Whoever's Social Security Number is listed as the RECIPIENT on the 1099-Q is responsible for reporting the 1099-Q and any tax due on the distribution.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"