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Form 1099-Q data entry

To enter information from Form 1099-Q, Payments From Qualified Education Programs (Under Sections 529 and 530), you can either:
  • Use Source Data Entry.
  • Use the following table to find where to enter the information.
Form field
Folder > Screen
Field
Payer's/Trustee's name
Educate > 1099Q
Payer's/Trustee's name
Payer's/Trustee's address and telephone
Educate > 1099Q
Payer's/Trustee's address
Payer's/Trustee's TIN
Educate > 1099Q
Payer's/Trustee's TIN
Recipient’s TIN
Educate > 1099Q
Recipient’s TIN
Recipient’s name and address
Educate > 1099Q
Recipient’s name and address
Account number
Educate > 1099Q
Account number
Box 1 - Gross distribution
Educate > 1099Q
Gross distribution
Box 2 - Earnings
Educate > 1099Q
Earnings
Box 3 - Basis
Educate > 1099Q
Basis
Box 4 - Trustee-to-trustee
Educate > 1099Q
Box 4 Trustee-to-trustee
Box 5 - Check one
Educate > 1099Q
Private, State, or Coverdell
Box 6 - Check if the recipient is not the designated beneficiary
Educate > 1099Q
Box 6 Check if the recipient is not the designated beneficiary
note
  • UltraTax CS/1040 considers earnings included in distributions as taxable unless you make an entry in the Payments from QTPs/ESAs section in the
    Adjusted qualified education expenses
     field.
  • According to Form 1099-Q instructions, if a final (total) distribution is made from an account and not all of the contributions were recovered, there may be a deductible loss. The application automatically carries such losses to Schedule A, line 23.

This article applies to:

  • Product: UltraTax CS
  • Return type: 1040 Individual
  • Subject: Education

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