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Get your taxes done using TurboTax
Not sure I understand. Can you clarify?
I have two children in college. Both of their college expenses were covered by direct payments to their schools via qualified 529's. Both received 1099-Q's. Both received 1098-T's. I read that since I am claiming both as dependents, I should report their 1098-T's on my tax return. I did get a notice that our income is too high to receive any deductions, but I did report those 1098-Ts on my return. I have a son who had a modest income with very part time work. His earnings were only $ 1700. BUT the 1099-Q he received had a little under $ 6k in earnings. I assumed I report the 1099-Q on his return? Same for my daughter (her earning will be much higher on her 1099-Q--$ 15k or so).
Since his total W-2 was $ 1700 and my daughter did not work (no other income), are they required to fill out a return at all?
More importantly, if they must file a return, should/can I remove their 1098-T's from my return since my income is too high to receive any benefit? Are they allowed to include their 1098-T's on their returns even if I claim them as dependents?