When I play the game Scrabble I always hope to not get the letter Q. Although Q has a lot of points if you don’t have a U to go with it your pretty much screwed. Luckily, I rarely get the letter Q. Just like the letter Q in Scrabble, the Form 1099-Q is a rare form. Form 1099-Q is for Payments From Qualified Education Programs (Under Sections 529 and 530), if you are either an officer or an employee or the designee of an officer or employee, having control of a program established by a state or eligible education institution; and made a distribution from a qualified tuition program (QTP). A trustee of a Coverdell education savings account (ESA) must file Form 1099-Q to report distributions made from Coverdell ESAs.
E-File Magic offers 1099-Q Software! Just print on blank paper – no pre-purchased forms required!