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cebu888
New Member

Can the summer stipend income on 1099 MISC box 3 be used for a fall or spring educational expenses?

I report my child's 1098T on my return. He is my dependent. He got a stipend for a summer research program from his school and it was reported on a 1099MISC box 3. The stipend can be used for anything (no restrictions), although during the summer he didn't incur any tuition, fees, etc. Can I apply the stipend on his educational expenses for fall and spring? If so, how? 

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Accepted Solutions
IsabellaG
Expert Alumni

Can the summer stipend income on 1099 MISC box 3 be used for a fall or spring educational expenses?

No, his stipend is income to him. It needs to be reported on his tax return, and isn't part of yours. You, of course, can continue claiming the educational expenses on your return. See this link to Tax Topic 421. 

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3 Replies
IsabellaG
Expert Alumni

Can the summer stipend income on 1099 MISC box 3 be used for a fall or spring educational expenses?

No, his stipend is income to him. It needs to be reported on his tax return, and isn't part of yours. You, of course, can continue claiming the educational expenses on your return. See this link to Tax Topic 421. 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
cebu888
New Member

Can the summer stipend income on 1099 MISC box 3 be used for a fall or spring educational expenses?

Thank you for the information.
IsabellaG
Expert Alumni

Can the summer stipend income on 1099 MISC box 3 be used for a fall or spring educational expenses?

You are welcome.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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