Terry O Posted March 17, 2011 Report Share Posted March 17, 2011 Client transferred Coverdell dollars from first child to second (the one that is still in school) and received a 1099Q with gross distribution in box 1 - -but NOTHING in Box 2 Earnings. I know that this is not a taxable event, but how does it get reported on the 1040? Thank You! Quote Link to comment Share on other sites More sharing options...
Pacun Posted March 17, 2011 Report Share Posted March 17, 2011 Is there a rollover code somewhere? You can change beneficiaries OR you can take out the money from one child to pay for college for another child who is your dependent. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted March 19, 2011 Report Share Posted March 19, 2011 If there were taxable 'earnings' in box 2 you would enter that on Line 21, [7th item down], but since there is nothing in that box, you do not enter it anywhere. Quote Link to comment Share on other sites More sharing options...
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