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Level 1
posted Jan 23, 2023 3:15:51 PM

Does TurboTax have a method for splitting a 1099-Q Distribution (Box 1) for more than one dependent? WA State GET/529 sends a single 1099-Q for all dependents/children.

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1 Best answer
Expert Alumni
Jan 24, 2023 11:52:11 AM

You can use your own math to divide the distribution in Box 1 on Form 1099-Q and enter each amount separately into TurboTax.

 

For example, if the amount in box 1 is $15,000 and used for two students, figure out what amount was used by each and enter the amounts for each student into the tax return.

 

Please see this TurboTax Help article with instructions on entering the information.

 

 

3 Replies
Expert Alumni
Jan 24, 2023 11:52:11 AM

You can use your own math to divide the distribution in Box 1 on Form 1099-Q and enter each amount separately into TurboTax.

 

For example, if the amount in box 1 is $15,000 and used for two students, figure out what amount was used by each and enter the amounts for each student into the tax return.

 

Please see this TurboTax Help article with instructions on entering the information.

 

 

Level 1
Jan 24, 2023 12:02:16 PM

To be clear, even though I only received a single physical 1099-Q form, I can enter the individual amounts for each of my dependent(s) into TurboTax, correct? Thank you.

Expert Alumni
Jan 24, 2023 1:20:06 PM

Yes, you will enter as though you had received a form for each individual student. The IRS matches the amount in Box 1. As long as the numbers in Box 1 on each form total the amount in the original Form 1099-Q, Box 1, everything is good.