I have a trust set up by my grandfather that handles all my tuition by paying directly to the college after liquidating some assets. I received a 1098t from my college and don't know whether I claim the tuition exemption or the trust does that before they send me the K1. Thanks in advance!
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"... the trust does that before they send me the K1"
You should be getting a K-1 for the income distributed (either directly to you or, actually I presume, on your behalf) and you should claim the deduction for tuition on your personal income tax return.
"... the trust does that before they send me the K1"
You should be getting a K-1 for the income distributed (either directly to you or, actually I presume, on your behalf) and you should claim the deduction for tuition on your personal income tax return.
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