1099Q

BOBHHI — Thu, 27 Feb 2020 23:44:38 GMT

I have a 1099 Q for my grandson who is NOT a dependent. Do I need to file anything on my Taxes. There is no place to enter it.

Yanks,

Bob

Re: 1099Q

DavidD66 — Fri, 28 Feb 2020 00:04:29 GMT

See Todd L's answer to a similar question:

The person who receives the funds (whose SSN is on the 1099-Q ) has to report the Form 1099-Q on their tax return (If the money went straight to the school, it is treated as going to the student).

You can enter the Form 1099-Q in either the Wages & Income section or the Deductions & Credits section of Federal Taxes,

(If entering in Wages & Income, the Coverdell ESA and 529 qualified tuition plans interview is found under Less Common Income > Miscellaneous Income).

(If entering in Deductions and Credits, the ESA and 529 qualified tuitions interview is found under Education).

If the beneficiary is listed as a dependent on this tax return , you will have to complete the Education Expenses interview, including entering the Form 1098-T.

If the beneficiary is not listed as a dependent on this tax return (e.g. grandchild), you will have a screen to enter information about that student and their expenses. Unlike the Education Expenses interview, you can enter Room and Board costs.

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1099Q

Re: 1099Q