Personal Finance & Money Asked on June 3, 2021
I rolled over 529 from one institution to another. The distributing institution issued a 1099-Q. I need a matching document showing that I contributed the funds to the new institution. Does this form have a specific name? Can I just provide the IRS with a statement from the new institution?
From Publication 970 (PDF), page 63, it seems that you do not need a "matching document":
An amount is rolled over if it's paid to an ABLE account or another QTP within 60 days after the date of the distribution.
Note. Under COVID-19 emergency relief, the student could roll over these amounts by July 15, 2020, if the 60-day period ends on or after April 1, 2020, and before July 15, 2020.
Don't report qualifying rollovers (those that meet the above criteria) anywhere on Form 1040, 1040-SR, or 1040-NR. These aren't taxable distributions.
Correct answer by Orange Coast- reinstate Monica on June 3, 2021
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