MarilynG1
Employee Tax Expert

Retirement tax questions

If you rolled over your some or all of your balance in a 529 plan, your financial institution should be able to tell you your earnings, which is the only amount that may be taxable.

 

They should also have records of your contributions made (if you don't), which is your Cost Basis.  Box 2 (earnings) and Box 3 (Cost Basis) should add up to Box 1 (Distribution) amounts.

 

Here's more detailed info on Form 1099-Q.

 

@j0mike1993

 

 

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