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Instructions for 1099-Q - Form 1099-Q

Instructions 1099-Q

Overview: File for payments for qualified education programs (under section 529 & 530), if you

A - Are an officer or an employee, or the designee of an officer or employee, having control of a program established by a state or eligible education institution and

B - Made a distribution from a qualified tuition program. (QTP)
A trustee of a Coverdell savings account (ESA) must file form 1099-Q to report distributions made from Coverdell ESA's. etc....

There is quite a bit more information and instruction.

Download the 1099-Q instructions, they are two pages of a pdf file.

Download the 1099-Q Form. (not for filing)

The sections to fill out on the 1099-Q form are:

  • Payer's/Trustee's - Name, address, city, state etc. and telephone number

  • Payer's/Trustee's Federal Identification Number

  • Recipients Identification number

  • Recipients name, address, city , state, zip

  • Account number (see instructions)
  • If the fair market value (FMV) is shown below see Publication 970,
    Tax benefits for education, for how to figure earnings..

  1. Gross distribution

  2. Earnings

  3. Basis

  4. Trustee to trustee transfer

  5. Check one - Qualified tuition program - Private or State

  6. If this box is checked the recipient is not the designated beneficiary

You can avoid the paper problems and use

Click on and read this Disclaimer - The downloaded 1099 Forms from this website do not conform to IRS standards and cannot be accepted if filed. There are penalties if you do so. See Part O in the general instructions. Read the warning at the top of each form under the words in red that say Attention: