, Tax Expert, Social Media TeamTurboTax TaxPro
You may receive Form 1099-Q, Payments from Qualified Education Programs (Under Sections 529 and 530), if you:
- Received a distribution from a Coverdell education savings account (ESA).
- Received tuition benefits or a refund from a qualified tuition program (QTP).
- Changed programs or program trustees.
- Are the designated beneficiary of an estate.
Usually, these distributions are not taxable to you if you transferred the funds to another program, another family member, or used the funds to pay for your education.
You can enter Form 1099-Q into TurboTax under "Federal Taxes" - "Wages & Income" - "Less Common Income" - "Miscellaneous Income, 1099-A, 1099-C."
At the next screen, launch the interview for "Coverdell ESA and 529 qualified college tuition plans (Form 1099-Q)."
More information is available at this link:
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