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Subject:  Re: Reporting 529 distributions on taxes Date:  3/19/2008  11:59 PM
Author:  TMFPMarti Number:  99593 of 127616

- Daughter is named as beneficiary on the 529

We use Turbo Tax to prepare our taxes and while I somehow stumbled through the program and managed to get the 1099-Q data entered

Did you happen to notice that it's your daughter's SSN on the 1099-Q? That's because a taxable distribution is income to her, not you.

Software strikes again. Go low-tech and see IRS Publication 970 about how distributions are handled. In the meantime, send your daughter the 1099-Q.

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