Missing Distribution Code on 1099-Q

[main0stage]

I received 1099-Q but it does not include Distribution Code. Shall i leave it as 'no entry'?

[MaryM428]

The distribution code will determine how any taxes are calculated on the 1099-Q income.  You need to contact the financial institution that issued the 1099-Q and learn the distribution code for the withdrawal of funds.

Form 1099-Q - Payments from Qualified Education Programs

Distribution Codes

1.  Distributions
2. Excess contributions plus earnings taxable in the current tax year
3. Excess contributions plus earnings taxable in the prior yea
4. Disability

[AmyC]

The issuer needs to let you and the government know the code. They will need to reissue to you both with the correct code. A blank is not acceptable.

[main0stage]

I called Utah529 and the person didnt know anything about 'Distribution Code' and she also informed me that 1099-Q is not required to be reported unless i had unqualified withdrawals. Since all my withdrawals were used for qualified expenses, not sure if 'Distribution Code' is needed. And if it is, then based on above response, '1' sounds most appropriate as it is "Distribution'. I have no clue

[AmyC · Accepted solution]

If all of the distribution was used on room and board, tuition, and other qualified expenses, you do not need to report your 109-Q at all. You can leave it off with no worries other than to keep proof that it was all spent - just in case the IRS ever asks.