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 (that's 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 a 1099-Q in the mobile app:
- Sign into the mobile app and click the orange Take me to my return button.
- Tap the TurboTax checkmark (iPhone) or menu icon (3 lines; Android).
- Select Federal Taxes, and then Deductions & Credits.
- Select All tax breaks if you see this option.
- Tap Education, and then select ESA and 529 qualified tuition programs (Form 1099-Q)
- You'll answer a few questions.
- You may see ”qualified tuition program (QTP),” which is another name for a 529 plan. This is the plan associated with 1099-Q.
- Now follow the screens to enter the information from your 1099-Q.
- (Free Edition) Follow the prompts to upgrade to Deluxe after entering your 1099-Q.