- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
Although the IRS does not consider this to be income, it would be regarded as support provided by the student. From the Journal of Accountancy:
"However, if a student pays the cost of tuition and fees or receives a student loan to pay them, that amount is counted as support provided by the student and can cause the child to fail the support test and thereby not qualify as a dependent"
By claiming himself for 2021, he will be eligible for the third Stimulus payment.
I have edited my previous post to include this information.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
March 18, 2022
10:07 AM