There’s no doubt about it, education tax benefits can make a huge
difference in your refund. The American Opportunity Tax Credit (AOTC)
typically offers the largest tax break. But if you don’t qualify for
that, there’s always the Lifetime Learning Cr...read more
@Hal_Al ,I’m still not clear on whether taxable scholarships our student
reports as income increase the qualified portion of our 529 distribution
or reduce it – depending on whether we took a 529 reimbursement for some
of the taxable scholarship tota...read more
I received 1099-Qs for both my college students and they both received
their 1098-T forms. We don't qualify for any of the education credits
due to income and no scholarships either. This year when I went to enter
the expenses, it only gave me prompt...read more
My 18 y/o daughter is a full-time student and has a part time job. She
made $4298.60 and her Form 1098-T in box 1 has $8474.03 and box 5 has
$9333.00. She has a Pell Grant and Life Scholarship. We purchased a
laptop outside of the school in the amoun...read more
KwinkPosted 2 hours ago
| Latest post 2 hours ago by
Hal_Al
If I pay for Dependent Care for my 11 year old son, who has special
needs, with his ABLEnow account, can I claim the expense as dependent
care when I file my taxes?
Student (freshman undergraduate) received scholarships that covered tax
free expenses (tuition, fees..) and taxable expenses (room, board,
insurance) . The university stated that "student not eligible to receive
form 1098-T". Can student (or parent) ...read more
Hello. I was entering my 1098-T information and was directed to a screen
with two check boxes (a screenshot is attached below). One is asking if
I received tax-free education assistance from an employer, the other is
asking if the aid was already rep...read more
When I enter the 1099-Q info, TT is saying that we have $8500 of taxable
income, but it clearly has not taken into account nearly $13K of room
and board (because there has been no prompt to enter the room and
board). All 529 distributions were to my ...read more
Jeff_HPosted March 4, 2024
| Latest post 4 hours ago by
rsday75
Hello! I finished my 8th semester of college (4th year) in the spring of
2025. This was technically for a graduate program, but I was a full time
student and hadn't exceded 4 years of college. For this semester, I
received a $6500 scholarship that we...read more