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Get your taxes done using TurboTax
Thanks!
1098 T
Box 1= 12,895
Box 5= 16,912
Entering on ours:
Box 1= $4k
Box 2= 0
Entering on dependent students:
Box 1= 8,895
Box 5= 16,912
So need to decide how much of the 8,017 to enter went toward room and board. Actual amount was $5,667. What are advantages to saying all $8,017 versus just entering the actual room and board? He has income from job in fall and trying to avoid too much tax liability to him after first $2700 of the $8017. Not like past years when just a student and wasn't working much so having taxable income didn't really affect him. Thanks again for help!!
6 hours ago