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djdbud
New Member

How do I report income on 1099Q on Home and Business form?

I will need to taxes on the withdrawal; how ever, do I input it on my return?
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1 Reply
HelenC12
Expert Alumni

How do I report income on 1099Q on Home and Business form?

Form 1099-Q reports distributions and benefits from Coverdell education savings accounts and 529 plans. It's reported on the tax return of the person whose Social Security number is on the form.

 

To enter your 1099-Q in TurboTax Home & Business:

  1. Open or continue your return
  2. Select the Personal Tab and then Deductions & Credits
  3. Select I'll choose what I work on
  4. Under Education, select Start or Update next to ESA and 529 qualified tuition programs (Form 1099-Q)
  5. Follow the screens to enter your info

 

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