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How to report 1099Q and 1098T for parent and student's tax returns?
We claim our college son as a dependent on our tax return. He received a 1098T and 1099Q under his SSN. If we report his 1098T, box 1 on our return to apply for AOTC, does that mean he can't use the tuition against the 1099Q, box 1 on his return? We have paid a total of $18K in qualified education expenses which includes $8K of tuition reported on 1098T, and $13.8K reported on 1099Q. It appears non of the distribution would be taxable, but confused on how to report all of this.
‎April 14, 2024
1:09 PM