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Why isn't taxable income per 1099-Q carrying over to 1040 line 8 other income?

david3
Level 7

TP received a 1099-Q reported to his SSN. The prior year the 1099-Q reported the TP's 24 year old son's SSN. The son is the beneficiary of the 529 plan.

TP's daughter was in college as well as the nondependent son. It appears that the 529 plan was used for both the daughter and the son. 

Since the son is the beneficiary, only the amount of college expenses for him is used as qualified expenses for the 1099-Q distributions. None of the daughter's expenses are considered qualified expenses, correct?

Therefore, there is a taxable amount to the recipient calculated on form 1099-Q. However, that amount isn't carrying over to Other Income line 8. That line isn't an enterable line and says it is calculated. 

What do I need to do for the amount to be reported on line 8? 

 

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Accepted Solutions
david3
Level 7

Ok, I looked at that again after I posted my question.

Since the funds were used for the daughter I checked the Dependent box on line B of the 1099-Q - "Who was the recipient of the distribution...". I changed that to the TP and the taxable income now appears on 1040 line 8.

Thanks.

 

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1 Comment 1
david3
Level 7

Ok, I looked at that again after I posted my question.

Since the funds were used for the daughter I checked the Dependent box on line B of the 1099-Q - "Who was the recipient of the distribution...". I changed that to the TP and the taxable income now appears on 1040 line 8.

Thanks.