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Financial Planning / Tax Strategies
|Subject: Re: Reporting 529 distributions on taxes||Date: 3/20/2008 12:12 AM|
|Author: TMFTaurean||Number: 99594 of 121218|
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.
I checked the 1099-Q and it actually has my wife's SSN in the recipient's box. Also, box 6 (recipient is not the designated beneficiary) is checked.
In the meantime, send your daughter the 1099-Q.
Actually we do her taxes for her too :-)...and my wife's parents.
So, with that additional piece of information, what's the next step?
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