Where do I enter a 1099-Q?
Form 1099-Q reports distributions and benefits from Coverdell education savings accounts and 529 plans.
The 1099-Q is reported on the recipient's tax return (the person whose Social Security number is on the form). If the funds went directly to the school, consider the student as the recipient, and if the student is your dependent, you should enter the 1099-Q on your return.
Here's how to enter your 1099-Q in TurboTax (if using the mobile app, tap here for alternate instructions):
- Open (continue) your return, if it's not already open.
- Inside TurboTax, search for 1099q or 1099-q (don't use the upper-case "Q") and then click or tap the "Jump to" link in the search results.
- On the Form 1099-Q screen, click or tap Continue.
- If you land on the Form 1099-Q Summary screen, click or tap Add a 1099-Q.
- Follow the onscreen instructions to report the 1099-Q.
- (If using Federal Free Edition) Follow the prompts to upgrade to Deluxe after you've entered your 1099-Q.