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Child's college tuition 1098T - can't enter in deduction. why?
My child graduated last year, May 2019. We paid the last semester's tuition. Some portion of the tuition was paid by 529 funds that we withdrew in 2018 (then we closed the account since she was graduating in Spring 2019) and the remaining balance was from our out of pocket. So we had no 1099Q for 2019. We received 1098T for the tuition we paid for the last semester. Attempting to enter the amount on 1098T on our tax returns since we are claiming her as a dependent since she still lives with us after graduation and didn't support herself more than50%. But Turbo Tax won't let me enter the 1098T amount telling us it's not deductible. Why?
March 26, 2020
11:31 AM