2024 FORM 1099-Q - Payments from Qualified Education Programs (Under Sections 529 and 530) - Copy B for Recipient

Sep 19, 2026

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2024 Form 1099-Q documents payments from qualified education programs under Internal Revenue Code sections 529 and 530 and provides Copy B for the recipient. The form reports recipient and payer information, payer and recipient identification details (with TIN/account protections), distribution classification, and key amounts such as gross distribution, earnings, and basis. Included instructions explain which distributions may be taxable or non-taxable, how box amounts interact, and cautionary rules for Coverdell ESAs, qualified tuition programs, rollovers, and additional tax.

LanguageEnglish

CategoryForms

FormatPDF

Pages2

Reading Time1 min

AccessFree to download

Recipient Instructions

Recipient and payer information

Taxability of distributions and rollovers

Box 1-6 fields: gross distribution, earnings, basis, transfers, plan type, designated beneficiary

Distribution codes and future developments

OMB NO. 1545-1760 Page 1 of 1 COLLEGEACCESS 529 P.O. BOX 534436 PITTSBURGH PA 15253-4436 CORRECTED (if checked) Recipient's Name and Address: 00001 BLK001 COLLEGEACCESS 529 PLAN JOHN Q PUBLIC FBO MARY Q PUBLIC 99 STREET NAME HOMETOWN ST 99999-9999 For additional information, please call: 1-866-529-7462 2024 FORM 1099-Q Payments from Qualified Education Programs (Under Sections 529 and 530) Copy B for Recipient | RECIPIENT'S TIN | | --- | | *** - **-9999 | | Payer's Name
COLLEGEACCESS 529 | | Payer's TIN
99-9999999 | Account / Reference Number
******5555 | | | --- | --- | --- | --- | --- | | 1. Gross Distribution
$9,999.99 | 2. Earnings
$999.99 | 3. Basis
$9,000.00 | | 4. Trustee-to-Trustee Transfer
| | 5. Plan Type
529 STATE PLAN | 6. If this box is checked, the recipient is not the designated beneficiary
X
| Distribution Code
1 | | | *G1100010J* 00000 1-0001 of 0001-NNNNN-00000 1-BLK 00 1-JOB04275 | This is important tax information and is being furnished to the 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. | | --- | | FORM 1099-Q (Keep for your records) Department of the Treasury-Internal Revenue Service | ABC 000055555 DFSRQ55R JOB04275 102820241353 Package Page 1 of 1 Instructions for Recipient This information is reported to the Internal Revenue Service (IRS). Recipient's Name and Address. Your registration and mailing address. You are the recipient of the distribution(s) shown on this form. Payer's Name. The name of the qualified tuition program or applicable mutual fund. Please note that certain boxes listed in these instructions may not be reflected on your form 1099-Q because they do not apply to your investment. Distributions from Coverdell education savings accounts (CESAs) under section 530 and qualified tuition programs (QTPs) under section 529, including rollovers, may be taxable. Nontaxable distributions from CESAs and QTPs are not required to be reported on your income tax return. You must determine the taxability of any distribution. See Pub. 970 and the Instructions for Forms 1040 and 1040-SR for more information. Also see Form 5329 and its separate instructions. Recipient's taxpayer identification no. (TIN). For your protection, this form may show only the last four digits of your TIN (SSN, ITIN, ATIN, or EIN) . However, the payer or trustee has reported your complete TIN to the IRS. Account number. May show an account or other unique number the payer has assigned to distinguish your account. For your protection, this form may show only the last four digits of your account number. Box 1. Shows the gross distribution (including in-kind distributions) paid to you this year from a QTP or a CESA. This amount is the total of the amounts shown in boxes 2 and 3. See Pub. 970 for more information. Caution: For CESA distributions (other than earnings on excess contributions) made during the calendar year, the payer/trustee isnot required to report amounts in boxes 2 and 3. Instead, the payer/trustee may report the fair market value of the CESA as of December 31 of the calendar year in the blank box below boxes 5 and 6. To figure your earnings and basis, use the Coverdell ESA—Taxable Distributions and Basis worksheet in Pub. 970. Box 2. Shows the earnings part of the gross distribution shown inbox 1. Generally, amounts distributed that are used to pay for qualified education expenses, transferred between trustees, or rolled over to another qualified education program or to an ABLE account, within 60 days, are not included in income. Under a QTP, the amount in box 2 is included in income if there has been (a) more than one transfer or rollover within any 12-month period with respect to the same beneficiary, or (b) a change in the designated beneficiary and the new designated benefici

FAQs

What does 2024 Form 1099-Q report for the recipient?

It reports payments from qualified education programs under sections 529 and 530. The recipient receives Copy B and can use the reported distribution information to determine potential taxability.

How are earnings and gross distribution related on Form 1099-Q?

Box 1 shows the gross distribution and is generally the total of the amounts in boxes 2 (earnings) and 3 (basis). Box 2 identifies the earnings portion included in income under certain conditions.

When can distributions be non-taxable or require additional taxes?

The instructions explain that distributions used for qualified education expenses and certain transfers or rollovers may be non-taxable, while other events can make amounts included in income. The form also notes that an additional 10% tax may apply to part or all of amounts included in income from the CESA or QTP.

Sep 19, 2026

Upload by Jiven