Skip to main content
Employee
March 9, 2020
Question

Do I need to report distributions from a 529 account if I am not the recipient?

  • March 9, 2020
  • 1 reply
  • 0 views
No text available

1 reply

DaveF1006
March 9, 2020

Please read this Turbo Tax link as it relates to your question. My understanding on this is, If the distribution doesn’t exceed the amount of the student's qualifying expenses, then you don't have to report any of the distribution as income on your tax return. If the distribution exceeds these expenses, then you must report the earnings on the excess as "other income" on your tax return. 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 10, 2020

@DaveF1006 - the social security number used on form 1099Q governs who potentially has to report it, if that is what you meant by 'recipient'.