W/H on 1099-Q
Has anyone ever heard of backup w/h for a form 1099-Q? Where would you enter it on the 1099-Q?
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01/05/12 7:05am PST
Viewed by asker 01/05/12 7:37am PST
Viewed by asker 01/05/12 7:37am PST
5 Replies
IRMN
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01/05/12 7:17am PST
Never heard of it but if they really did withhold tax, I guess you could enter it as other withholding - line 18 on the tax payments worksheet.
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01/05/12 7:22am PST
I agree with where to enter it. But I also question how this happened and where on the form 1099-Q it is reported. 529 administrator should have the correct SS# for the recipient already on file when plan was created.
01/05/12 7:29am PST
Yeah, I was looking at the form trying to figure out how it got there, that's why I threw in the "if they really did withhold tax" disclaimer.
Accountant Man
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01/05/12 7:20am PST
a) Are they even allowed to withhold taxes?
b) If they did, enter it on Tax Payments Worksheet, line 18a-Other Withholding.
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01/05/12 7:37am PST
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Where is withholding shown on the 1099-Q? There's not a spot for it. Sounds like an error of some kind to me.
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