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February 17, 2020
Question

Reporting non-qualified 529 Distribution <$600

  • February 17, 2020
  • 1 reply
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I received a non-qualified distribution from an old 529 plan closed years ago.  Since it was less than $600, no form was issued and I am unsure how to properly report it.  The accompanying letter mentions 1099 Miscellaneous but this seems a little vague - I'm thinking this would have been reported on a 1099-Q.  The beneficiary has long ago finished school and there are no education costs to offset the funds.  

    1 reply

    February 17, 2020

    Yes, this most likely would have been reported on a Form 1099-Q, if it had been required, but to enter it in TurboTax Online:

    1. Go to Tax Tools.
    2. Go to Tools.
    3. Go to Topic Search and type in "529”
    4. Select "529", and click GO.

    This will take you to the interview where you can enter your relevant information.