grandmabee Posted February 18, 2010 Report Share Posted February 18, 2010 When there is a withdrawal is a 1099 issued. I have a client that took out for sons college and she said they were about 200 short of using it all for qualified expenses. I know its taxable to the son(beneficary) but will a 1099 be coming? thank you Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted February 20, 2010 Report Share Posted February 20, 2010 What they will get will be a 1099-Q, and the full amount of the distribution will be shown in Box 1. Read Pub 970, page 49 and on for how to figure the taxable portion and how to report it. Quote Link to comment Share on other sites More sharing options...
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