MaryK4
Expert Alumni

Retirement tax questions

You will be able to indicate the ABLE rollover.  Can you clarify if the 1099-Q is issued to you?  

 

Here is what you will want to look for in the TurboTax interview:

On the Other Form 1099-Q information, do you have 

Box 4A Trustee-to-trustee transfer marked YES?  

Box 6:Is the recipient of the distribution the designated beneficiary should be YES.

 

On the Distribution Transfer page, be sure you indicated YES.

 

Just to note: Beginning in 2018, rollovers are permitted from a Qualified Tuition Plan (QTP) account to an ABLE account, provided the ABLE account is owned by the designated beneficiary of the QTP account or a member of the beneficiary's family. However, rollovers count toward the annual ABLE account contribution limit.
 

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