1099Q

[ggliverette]

My son claims himself, I don't claim him as a dependent anymore.  He received a 1099Q with the recipient as his grandmother (who opened the account for him) and it has her SS# number on it.  Who claims this on their taxes?

[ReneeM7122]

Your son's grandmother must claim the 1099Q on her taxes; however, as long as the money was used for qualified education purposes, it is not taxable.  Here is a TurboTax article about the 1099Q.