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sgc6000
New Member

Should I put 529 1099-Q taxable portion of distribution on my taxes under "other income", or does student beneficiary?

This year my dependent's education expenses do not equal or exceed the 529 distributions. Turbo tax is telling me "the student beneficiary must report $XXX of taxable income from this distribution".  The 1099-Q and 1098-T are claimed on my taxes, so do I claim this taxable portion under "other income", or does my dependent need to file and claim under "other income"?


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1 Reply
MarilynG
Expert Alumni

Should I put 529 1099-Q taxable portion of distribution on my taxes under "other income", or does student beneficiary?

Your student should put the 1098-T and 1099-Q on their return if education expenses don't exceed Scholarships and 529 distributions, creating other taxable income.

You can still claim your student as a dependent on your return, if you are eligible to do so.

If the student is not required to file a return, then none of the education items need to be reported.

Here's a detailed discussion on your situation to help you:

https://ttlc.intuit.com/replies/6518490

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