Q. Can I amend her 1040 through TurboTax to mark the "someone else can claim me as a dependent"?
A. Yes. But don't amend until after her refund is received. The father does not need to wait for her to amend before filing his return and claiming her and her tuition.
Q. I believe I inputted her 1098-T information to offset the 1099-Q. Will that causes an issue because my dad would now claim the 1098-T if she's his dependent?
A. No. The 1098-T is only an informational document and can be used on both returns.
Q. I entered the 1099-Q under the 1099-Q section of TurboTax so I was confused why it showed up on Line 1. I should also mention that it says "Sch 5616" next to Line 1 on her 1040.
A. That's not the 1099-Q amount on line 1 of 1040. It's $5616 of taxable scholarship and some other money, if it totals $8000.
Q. None of the distribution was taxed because (I think) I entered her 1098-T info. How can I go back into the return and verify that I did?
A. Look at the student info worksheet for the calculations. There may also be a 1099-Q worksheet.
Q. Because her income was less than the standard deduction, nothing ended up being taxed?
A. That's a possibility. The taxable portion of a 1099-Q (if any) is never more than the amount in box 2 of the 1099-Q and shows up on line 8z of Schedule 1 and line 8 of form 1040.
For more help provide more details:
Provide the following info for more specific help:
- Box 1 of the 1098-T
- box 5 of the 1098-T
- Any other scholarships not shown in box 5
- Does box 5 include any of the 529/ESA plan payments (it should not)
- Is any of the Scholarship restricted; i.e. it must be used for tuition
- Box 1 of the 1099-Q
- Box 2 of the 1098-Q
- Who’s name and SS# are on the 1099-Q, parent or student (who’s the “recipient”)?
- Room & board paid. If student lives off campus, what is school's R&B charge for on campus students
- Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers
- How much taxable income does the student have, from what sources
- Is the student an undergrad or grad student?
