1099q recipient is not designated beneficiary - I am not sure if I should check the box.
My wife opened three 529 accounts up for my kids. We use the funds to pay for my daughter's college expenses and my son's barber trainings. There is a box that I either check or not check. It reads: "6 - Recipient is not Designated Beneficiary". Is my wife the "recipient" and if my daughter/sons the "beneficiary"? Therefore should I check the box?
1099q recipient is not designated beneficiary - I am not sure if I should check the box.
It depends whose Social Security number is on the form. If your wife's SSN is on the form, then she is the recipient. Because the funds were used for another person (the designated beneficiary), you would check the box.
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