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Deductions & credits
for some reason this trips a lot of people up.
Another thing that many folks don't understand, is that all scholarships, grants and 529 distributions are treated as taxable income "initially". Their taxability is then offset by the qualified expenses they are used to pay for. This is because monies not used for qualified or allowed expenses, are taxable income.
‎January 16, 2020
3:32 PM