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If I'm filing a 1099-Q and I am the designated beneficiary, do I select yes or no for box 6? The language on TurboTax is confusing me.

Box 6 reads: "Is the recipient of the distribution the designated beneficiary?" Then above the yes/no selections, it reads "Recipient is not designated beneficiary" The recipient is the beneficiary. So is that yes or no here?
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JamesG1
Employee Tax Expert

If I'm filing a 1099-Q and I am the designated beneficiary, do I select yes or no for box 6? The language on TurboTax is confusing me.

The designated beneficiary is the individual to receive the benefit of the funds in the account.

 

If you are the designated beneficiary and you are receiving the distribution, the answer is Yes.  

 

The explanation for IRS form 1099-Q states:

 

Box 6

 

The designated beneficiary is the individual named in the document creating the trust or custodial account to receive the benefit of the funds in the account. If you are not the designated beneficiary, see IRS Publication 970.

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