Dear IEM Clients,
You are receiving this message because you (or your spouse) took a distribution from a 529 College Savings plan in 2019. Please expect to receive a 1099-Q tax form for distributions taken in 2019.
Please note that the 1099-Q tax form can be easily overlooked because it simply looks like a generic 529 plan statement. However, not acknowledging receipt of the 1099-Q on your tax return (even though the distribution may not be taxable) could cause an IRS notice to be issued.
After taking distributions from a 529 College Savings Plan, we encourage owners to staple the college related receipts to the distribution stubs.
Best,
Noah Merten
Registered Client Services Manager
Securities and advisory services offered through Commonwealth Financial Network, member FINRA/SIPC, a Registered Investment Adviser. Fixed insurance products and services offered through CES Insurance Agency
or Integrated Equity Management
