I am getting tripped up because the TurboTax site has conflicting info. It says report it on student's return but then says if student is dependent then report on parent return. I entered it on the parent return which then told me the student has a taxable amount. So, then do I enter it a second time on the student return? It sounds like I need to keep enough expenses off the parent return to offset the student return 1099-Q amounts.
TT site I looked at was: https://ttlc.intuit.com/community/entering-importing/help/where-do-i-enter-a-1099-q/00/26766
and it reads as follows:
The 1099-Q is reported on the recipient's tax return (the person whose Social Security number is on the form). If the funds went directly to the school, consider the student as the recipient, and if the student is your dependent, you should enter the 1099-Q on your return.
