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Form 1099-Q reports distributions and benefits from Coverdell education savings accounts and 529 plans.
The 1099-Q is reported on the recipient's tax return (the person whose Social Security number is on the form). If the funds went directly to the school, consider the student as the recipient, and if the student is your dependent, you should enter the 1099-Q on your return.
Here's how to enter your 1099-Q in TurboTax:
If you're using the mobile app, go here for mobile-specific instructions.
I have already inputted the information. I am trying to file my taxes now and cannot because of a law that was passed in November that effected the 529 fund withdrawals. I need to know how long of a delay is there going to be before I can actually file?
check again today - TT tends to update software on Thursdays (the desk version top did have an update this morning)
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