My independent son, age 28, full time student, living away at school provides over half his own support. His w2 income also excludes him as my dependent. He has education grants covering the qualified expenses with some taxable portion remaining. His non-qualified expenses are covered through the combination of the taxable portion of the grants, w2 income, loans, and cash support from me. He needs a minimum income to get to 100% FPL to qualify for the ACA subsidy in my state. The loans don't count as income, but with my cash contribution he exceeds the minimum income amount.
Can (and how) would my son report my cash contribution on his return? It seems it might be included based on one of these in p525 - Expenses paid by another or Scholarships and fellowships.
Do I need to report that on a 1099?
