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Retirement tax questions
TurboTax is trying to determine who is benefiting from the distribution, as that individual may have a tax liability associated with it. If the beneficiary is your child, then you should enter the form on his or her tax return.
The beneficiary should be listed as the recipient on the form 1099-Q if the funds went to him or her or on their behalf to the school. So, the recipient of the form should be the beneficiary if it is not listed.
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‎February 4, 2021
3:01 PM