Form 1099-Q Qualified Tuition Program
Form 1099-Q (529) lists all payments from your qualified tuition program (529) accounts.

To view the tax filing information for a form section, click on the appropriate letter below.
Putnam Investments 1099-DIV

Putnam Investor Services
P.O. Box 8383
Boston, MA 02266-8383
1-800-225-1581



RECIPIENT'S name, address, and ZIP code
JOANNE SAMPLE
PO BOX 41203
PROVIDENCE RI 02940-1203



Corrected (if checked)


 
2014 Payments from Qualified Education Programs (under sections 529 and 530)
This is important information and is being furnished to the Internal Revenue Service (IRS). If you are required to file a return, a negligence penalty or other sanction may be imposed on you if this income is taxable and the IRS determines that it has not been reported.


Recipient's tax identification number
xxx-xx-1234
   
Qualified Tuition Program (Payer),
Tax I.D. Number and
Account Number		 1.
Gross
Distribution		 2.
Earnings		 3.
Basis		 4.
Trustee- To-Trustee Transfer		 5.
Qualified Tuition Program - Private or State		 6.
Checked if Recipient is not the Designated Beneficiary
COLLEGE SAVINGS TRUST FUND
xx
4067-0123456789
4,202.58
1,133.33
3,069.45

STATE
X
COLLEGE SAVINGS TRUST FUND
xx
3153-0123456789
35,000.00
5,000.00
30,222.22
X
STATE
X

Frequently Asked Questions

  • What portion of my 529 distribution (withdrawal) is taxable?
    Contributions into 529 plans are always after-tax money, so the only amount that could be taxable is the earnings (listed in Column 2). In most circumstances, non-qualified withdrawals will be taxed. Also, in limited circumstances, even qualified withdrawals may be taxed depending on the expense the funds were used for, as well as if any other "tax-free educational benefits" (Coverdell ESAs, Hope/Lifetime Learning Scholarships, etc.) were used. For Ohio residents, most qualified withdrawals will be state tax-free. IRS Publication 970 (available at www.irs.gov) contains formulas that can help you determine the federally taxable portion of the earnings (if one exists). Otherwise, consult your tax advisor for assistance in calculating the state and federal taxable earnings.
  • In what situations would information be provided in Column 4?
    You, the account owner, will receive a separate Form 1099-Q for all distributions that were a result of an external rollover to another company's qualified 529 plan. In this case, Column 4 will have an 'X' to distinguish these distributions. If you performed an indirect rollover to another 529 plan, Column 4 would not show a 'X'.
  • Will I get a tax form for my 529 contributions?
    No. Form 1099-Q is for distributions only. It's the only tax form generated for 529 accounts. Contributions are not tax deductible; therefore, no tax forms are generated.
  • Who will receive Form 1099-Q — the participant or beneficiary?
    The tax form will be sent to either the participant (account owner) or beneficiary depending on the recipient of the distribution. Generally, the beneficiary is listed as the recipient if the distribution is made directly to the beneficiary or to an eligible educational institution for the benefit of the beneficiary. The participant will be listed as the recipient on all other distributions. The participant will receive a separate Form 1099-Q for all rollover distributions sent to another trustee's 529 plan.

None of the information in this Web site should be considered legal or tax advice. You should consult your legal or tax advisor for information concerning your own specific tax situation. The forms and numbers shown in this Web site are for illustrative purposes only.