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MGC94
MGC94
Level 7
April 5, 2024
Question

1099-Q

  • April 5, 2024
  • 2 replies
  • 14 views

Taxpayer received 1099-Q FBO of grandson. 

Gross distribution 100% for school $18,135.50 

Coverdell ESA X 

Basis is blank. There is no dependent on her return. How do I make this non taxable or does it go on the grandsons return? 

This topic has been closed for replies.

2 replies

sjrcpa
sjrcpa
Level 15
April 5, 2024

Whose SSN is on the form?

The more I know the more I don’t know.
    T
    Terry53029Intuit Community Champion
    Intuit Community Champion
    April 5, 2024

    If her SS is on the 1099Q when you enter it scroll to bottom of form and fill in numbers to make it nontaxable. As a side note only the earnings might be taxable. 

      MGC94
      MGC94Author
      Level 7
      April 7, 2024

      @Terry53029 @sjrcpa Not in her SS. In the grandsons

        sjrcpa
        sjrcpa
        Level 15
        April 7, 2024

        Then it is for the grandson's return.

        The more I know the more I don’t know.
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