Webb1 dec. 2024 · The 1099-Q provides three key pieces of information. Box 1 reports your annual distributions or withdrawals from the account. The second box reports the portion of the distribution that represents the … Webb19 feb. 2024 · So there are plenty of expenses to offset the 1099-Q. So, he still will not need to file a tax return and the 1099-Q does not have to be reported at all. You can …
Form 1099-Q: What to know Credit Karma
Webb1 dec. 2024 · The 1099-Q provides three key pieces of information. Box 1 reports your annual distributions or withdrawals from the account. The second box reports the portion of the distribution that represents the … Webb26 mars 2015 · The 1099-Q will have the SSN of the person to whom the distribution was paid. The 1098-T will have the student’s SSN. This is one of the reasons it is generally recommended to have distributions from your 529 plan paid directly to the student– matching makes it easy. swr songliste
What Is Form 1099-Q: Payments From Qualified …
Webb3 nov. 2016 · One time when information on a form 1099-Q may have to be reported on a return is when there is income reported thereon, and the funds paid out by the fund were not used for qualified education purposes. Roland Slugg "I do what I can." Comment PostCancel Taxadvisor VA Senior Member Join Date:Feb 2013 Posts:122 #3 09-23 … Webb10 jan. 2024 · Select the QuickZoomto Form 1099-Q, Payments from Qualified Education Programs. Enter the name of the payer and select Create. Under Designated Beneficiary and Recipientcomplete the checkboxes to show who was the designated beneficiary and who was the recipient. Webb15 jan. 2008 · Since the 1099Q was reported in my daughter’s name and her SSN, we figured it went on her tax form somewhere, not ours, since none of our 529 statements have our SSN on them. After pondering several instructions, we decided it belonged on 1040 line 21, other income, and we report 0 but also wrote “see enclosed note.” text in a circle online