1099-Q for minor child K-12 tuition expenses disbursed from 529 directly to school. My child received the 1099-Q...do I include that on my joint tax return or disregard?
1099-Q for minor child K-12 tuition expenses disbursed from 529 directly to school. My child received the 1099-Q...do I include that on my joint tax return or disregard?
You can disregard the form if you used all of the distribution for qualifying education expenses. Otherwise, it would be reported on the tax return of the individual named on the form, if a return is required to be filed for that person.
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On form 1099-Q, instructions to the recipient reads: "Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution."