AmyC
Employee Tax Expert

Deductions & credits

Hal_Al knows education and is correct the the 1099-Q does not have to be entered when used on qualified expenses and the 1098-T is informational only. You will want to use correct information for filing your return.

Hal_Al is also correct about possibly qualifying for an education credit.

 

The key is to determine if there is any taxable income or any education credit. If the IRS asks, you can show, this was the taxable amount and why or this is the credit and why.

 

You have the records and know the amount you actually paid for the many education expenses. What Expenses Qualify at IRS Publication 970, Tax Benefits for Education. Allocate the 1099-Q to room and board first and work your way back to tax credits.

 

Enter the numbers that you can prove.

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