My student has w2 = 5K, federal withhold tax = 135
claimed as dependent on my tax return
1098-T box 1 = 12K
1098-T box 5 = 9K
1099-Q box 1 = 16K
1099-Q box 2 = 6K
What should my student file 1099-Q and 1098-T?
If my student file 1099-Q, my student has to pay federal tax of 1500 for 6K earn.
if my student file 1098-T, my student has to pay federal tax of 219 for 9K scholarship
What should my student do?
We filed our tax with both forms and we did not receive any credit. Even we paid for all expenses including tuition and R&B. 529 and scholarship barely cover all.
