Form 1099-Q - Taxable to Recipient or Designated Beneficiary
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The recipient listed on Form 1099-Q should report the distribution on his or her tax return. If the recipient is a family member, the distribution has to be reported on that person’s tax return, not your return.

Keep reading to understand when to list a beneficiary as a distribution recipient for a qualified tuition program or Coverdell Education Savings Account

Qualified Tuition Program:

For a qualified tuition program (QTP) or Section 529 Plan, the beneficiary should be listed as the recipient only if the distribution is made:

  • directly to the designated beneficiary, or
  • to an eligible educational institution for the benefit of the designated beneficiary.

Otherwise, the account owner should be listed as the recipient of the distribution.

Coverdell ESA

For a Coverdell ESA, the designated beneficiary should be listed as the recipient.

If the reporting of your distribution does not meet these criteria, contact the payer/trustee for clarification.

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