Solved: I have 1099-Q registered under my name on the RECIPIENT's name box. It was intended for my daughter. It seems TurboTax treats this as my income. What should I do?
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I have 1099-Q registered under my name on the RECIPIENT's name box. It was intended for my daughter. It seems TurboTax treats this as my income. What should I do?

Please ignore my previous question submitted less than 5 minutes ago. The error was due to incorrect data entry.

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I have 1099-Q registered under my name on the RECIPIENT's name box. It was intended for my daughter. It seems TurboTax treats this as my income. What should I do?

Is your social security number the identification number reported on the Form 1099-Q?  If so, then the income is treated as being received by you, unless the funds went directly to the school.  If the funds went directly to the school they are treated as received by your daughter. 

Are you claiming your daughter as your dependent?  If so, the only 1099-Q amounts that should be treated as taxable would be amounts in excess of the allowable education expenses.

At this point, it would be a good idea to review the information that was entered. 
Go back through the whole education section and check your entries, especially the entries for the qualified expenses.

  • Open your return
  • Click on Federal Taxes
  • Click on Deductions and Credits
  • Click on "I'll choose what I work on"
  • Scroll to Education Click the button to review "ESA and 529 qualified tuition programs (Form 1099-Q).
  • Do the same with "Expenses and Scholarships (Form 1098-T)
  • You will see "Your Education Expenses Summary", click the Edit button
  • What is entered for Scholarships/Grants - is the 1099-Q distribution in there?
  • Click Edit beside Other Education Expenses (for all schools)  Are amounts for room & board entered?  How about the other categories?
  • If any of the amounts appear to be incorrect, click the Edit button beside those amounts and correct them. 


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Highlighted
New Member

I have 1099-Q registered under my name on the RECIPIENT's name box. It was intended for my daughter. It seems TurboTax treats this as my income. What should I do?

Is your social security number the identification number reported on the Form 1099-Q?  If so, then the income is treated as being received by you, unless the funds went directly to the school.  If the funds went directly to the school they are treated as received by your daughter. 

Are you claiming your daughter as your dependent?  If so, the only 1099-Q amounts that should be treated as taxable would be amounts in excess of the allowable education expenses.

At this point, it would be a good idea to review the information that was entered. 
Go back through the whole education section and check your entries, especially the entries for the qualified expenses.

  • Open your return
  • Click on Federal Taxes
  • Click on Deductions and Credits
  • Click on "I'll choose what I work on"
  • Scroll to Education Click the button to review "ESA and 529 qualified tuition programs (Form 1099-Q).
  • Do the same with "Expenses and Scholarships (Form 1098-T)
  • You will see "Your Education Expenses Summary", click the Edit button
  • What is entered for Scholarships/Grants - is the 1099-Q distribution in there?
  • Click Edit beside Other Education Expenses (for all schools)  Are amounts for room & board entered?  How about the other categories?
  • If any of the amounts appear to be incorrect, click the Edit button beside those amounts and correct them. 


View solution in original post

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