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GEOMON
New Member

1099Q Distro to ROTH IRA

I am the owner of a 529 and my daughter is the beneficiary.  During 2024 she ask if she could use $3,000 from the 529  to add to a ROTH IRA that she just established. This was done.  I received the 1099Q reflecting the distribution from financial institution who manages the 529 for me and the $3,000 was sent by the same financial institution directly to my daughter who deposited it in her ROTH IRA. As I understand it, I should not repeat  not enter this 1099Q into my tax return on TT. Is this correct?  This bothers me a bit because the financial institution is required to report this 1099Q transaction to the IRS.  Please Advise.

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