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Level 1
June 1, 2019
Question

Who files the 1099-Q?

  • June 1, 2019
  • 1 reply
  • 14 views

I have a 529 plan for my niece (the beneficiary). We withdrew all the money last year. The 1099-Q says "the recipient is not the designated beneficiary".  We received the check directly from the 529, but then wrote a check for the amount and sent it to our nieces mother.  This is what the agent told us to do.  It was all used for school tuition.  Will this cause a problem? Who is supposed to claim the 1099-Q on their taxes?

1 reply

Level 13
June 1, 2019

Your niece may need to report the amount that is not used for school expenses.  The 1099-Q should be in the SSN of the dependent not the owner of the account.

Please see below for a Guide to IRS Form 1099-Q

https://turbotax.intuit.com/tax-tips/college-and-education/guide-to-irs-form-1099-q-payments-from-qu...


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