529 plan question?

Marylandwoman — Thu, 06 Jun 2019 15:23:16 GMT

529 $ transferred to my checking account, I wrote check to daughter, she wrote check to university. I got 1099Q. All $ went for qualified education expense. How handle on Turbo Tax?

In the search box type 1099-Q, jump to section in Turbo T...

kerriP — Thu, 06 Jun 2019 15:23:17 GMT

In the search box type 1099-Q, jump to section in Turbo Tax.

You need payers name and ID number, etc. (This is the Trustee)

Amounts from box 1,2, 3,4,5 (type of program)

Box 6:The person whose SSN is on the 1099-Q has to report the distribution on their tax return.

Distribution Code, State sponsoring the plan and questions about beneficiary. If the beneficiary is a dependent on on your return, The parent will have to complete the Education Expense Interview and enter 1098-T information. Room and Board expenses qualify for 1099-Q money.

topic 529 plan question? in Education

529 plan question?

In the search box type 1099-Q, jump to section in Turbo T...