529 to Roth conversion again ...

[ChuckF1]

Very useful information on this topic ...

Like many, I began converting for my son. He is the beneficiary of the 529. I am the owner. So - assuming that no IRS rules have been broken by initiating this 529 to roth conversion:

1. where is this handled / input in TurboTax Delux 2024?

2. who has to file this information, the owner (me) or the beneficiary (my son)? A 1099Q was issue with my son's name which is a first. I'm assuming he has to provide this information when he does his taxes.

Thanks for any insight, Chuck

[Bsch4477]

You should be aware of all of the rules which are discussed here 

https://www.journalofaccountancy.com/news/2023/jul/the-new-529-rollover-roth-ira.html

if all of the withdrawn funds from the 1099 Q were used for qualifying education expenses you don’t have to report that form on any return. 

[ChuckF1]

Thank you Bsch4477,

The funds were not used for a qualifying education expense, they were rolled over to a Roth IRA.

cheers,

Chuck