Get the free 2012 form 1099q

Distribution codes. For 2013 the payer/trustee may but is not required to report in the box below boxes 5 and 6 one of the following codes to identify the distribution you received 1 Distributions including transfers 2 Excess contributions plus earnings taxable in 2013 3 Excess contributions plus earnings taxable in 2012 4 Disability 5 Death 6 Prohibited transaction. Note. Nontaxable distributions from CESAs and QTPs including rollovers are not r...

How to fill out 2012 form 1099q

How to fill out 2012 form 1099q?

1. Obtain the form: The 2012 form 1099q can be obtained from the Internal Revenue Service (IRS) website or local IRS office.
2. Provide payer information: Fill in the relevant details of the payer, including name, address, and identification number in the appropriate sections of the form.
3. Provide recipient information: Fill in the recipient's name, address, and social security number or taxpayer identification number in the designated sections.
4. Report distributions: Fill out the relevant information regarding the distributions made to the recipient, including the amount and type of distribution.
5. Identify the account: Indicate the account number associated with the distribution, if applicable.
6. Report earnings and basis: Provide the taxable and non-taxable portion of the earnings distributed along with the basis of distribution.
7. Complete copies: Ensure that all required copies of the form are completed accurately and legibly.
8. Filing and submission: File Copy A of the form with the IRS and distribute the appropriate copies to the recipient and state tax authorities, if required.

Who needs 2012 form 1099q?

1. Educational institutions: If a college, university, or other eligible educational institution made a distribution from a qualified tuition program during the tax year, they need to issue form 1099q to recipients who received such distributions.
2. Recipients of distributions: Individuals who received distributions from a qualified tuition program in 2012 may need the form 1099q to report the amounts on their tax returns and calculate any tax implications.
3. Taxpayers preparing their tax returns: Taxpayers who utilized a qualified tuition program and need to report the distributions and any taxable portion for the tax year 2012 will require form 1099q.

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What is form 1099q?

Form 1099q is a tax form used to report distributions made from qualified education programs.

Who is required to file form 1099q?

Financial institutions, educational institutions, and other entities that made distributions from qualified education programs are required to file Form 1099q.

How to fill out form 1099q?

To fill out form 1099q, you need to provide the recipient's information, the account number, the amount of distributed earnings, and the amount of distributions for qualified education expenses.

What is the purpose of form 1099q?

The purpose of form 1099q is to report to the IRS and the recipient the amount of distributions made from a qualified education program.

What information must be reported on form 1099q?

Form 1099q requires reporting the recipient's information, the account number, the amount of distributed earnings, and the amount of distributions for qualified education expenses.