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pnd103097
New Member

We purchased savings bonds in our daughter's name years ago for college. This past year we cashed some in to pay tuition and since we purchased the bonds, we claimed the tax deduction on the tuition. Our daughter however received a 1099-T in her name from

Since the 1099-T and the 1099-INT are both in our daughter's name, I'm not sure whether I should claim both on my daughter's tax return. I should also note that she is a full time student.
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Texas Roger
Level 15

We purchased savings bonds in our daughter's name years ago for college. This past year we cashed some in to pay tuition and since we purchased the bonds, we claimed the tax deduction on the tuition. Our daughter however received a 1099-T in her name from

Your daughter would claim the 1099-INT on her tax return. If you are claiming your daughter as a dependent on your tax return, you would enter the 1098-T (not 1099-T) on your tax return and claim any qualified expenses paid out of pocket, with loans, or from the bonds cashed in on your tax return. 

If she had any scholarship income that paid for non qualified education expenses such as room and board, she would enter that on her tax return. It is taxable on the student's tax return.

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Texas Roger
Level 15

We purchased savings bonds in our daughter's name years ago for college. This past year we cashed some in to pay tuition and since we purchased the bonds, we claimed the tax deduction on the tuition. Our daughter however received a 1099-T in her name from

Your daughter would claim the 1099-INT on her tax return. If you are claiming your daughter as a dependent on your tax return, you would enter the 1098-T (not 1099-T) on your tax return and claim any qualified expenses paid out of pocket, with loans, or from the bonds cashed in on your tax return. 

If she had any scholarship income that paid for non qualified education expenses such as room and board, she would enter that on her tax return. It is taxable on the student's tax return.

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