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March 14, 2021
Question

I received a Form 5498-QA and 1099-QA for my Maryland ABLE account. Do I need to enter this information anywhere?

  • March 14, 2021
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March 17, 2021

The 5498-QA is not entered on your tax return; it is for your information only. Just put it in your tax file.

 

However, while the 1099-QA is not reported on a tax return, if the distribution was not used to care for the individual, you may need to report the taxable portion. 

 

Do a Search (upper right) for 1099-qa and click on the jump-to link (Mac users will have to find 1099-QA in the Topics List).

 

OR

 

Click "Other Tax Situations"  

Click through the interview questions

Click "See all uncommon tax situations"

Scroll down to "Additional Tax Payments" and click Show more

Scroll down to Additional taxes and repayments and click Start

Click Yes on the next screen and continue through until you get to the screen to enter the amount of the distribution that was distributed for something other than the care of the person. 

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