Retirement tax questions

Let's take these in order. 

Do i need to file return for disabled individual with a 1099-QA ?

• It may not have to be reported, see below.
• If it does have to be included on a tax return It will be on the Individual named in the box labeled Recipients Name (This is probably You.).

As an Authorized Legal Representative do i need the beneficiary to file a tax return having received a 1099-QA ? 

• As stated above - It will be on the Individual named in the box labeled Recipients Name.
• This probably is you.

Also do I need to include the 1099-QA in my tax return?

• The 1099-QA reports withdrawals from the ABLE-now account.
• You will only get a 1099-QA if you withdrew funds or closed the account during the tax year.
• If the money was used to pay for qualified disability expenses, the distributions aren’t taxable and you don’t need to report them as income. 
• You should keep your 1099-QA with your records for future reference.

If you did have a withdrawal that was not used for the qualified disabled individual:

• It will be included on the tax return of the Individual named in the box labeled Recipients Name.
• It will be posted in TurboTax as stated below:

 As an alternative you can go to the main menu.

1. Select Tax Tools
2. On the drop-down select Tools
3. There will be 4 green boxes
4. Select Topics Search
5. Type the 1099-QA
6. You will see ABLE account distributions included in income
   1. Enter the amount that was withdrawn that was not used for the disabled person.
7. Continue the interview.

Please contact us again with any additional questions.