My dependent child's college expenses are being handled this way:
- 1098-T amounts on parent's taxes, since child is a dependent.
- The 529 plan OWNED by this child means the 1099-Q disbursement data goes on my child's tax return. The college expenses (books, room & board) are paid for with 529 funds, so they go as an expense on the child's return.
On child's return, Personal/Deductions & Credits/Education/Expenses and Scholarships (1098-T), we say no 1098-T received (since we used it on parent's return), then it asks: "Enter the Tuition You Paid (Enter the full amount of tuition and fees paid to the [school]. Include all of the amount paid by you, someone else, scholarships, fellowships, or student loans)." If I enter the value it reduces the child's tax due, but this was the same data that I entered on my parent return that reduced our taxes. Do I enter zero here to avoid counting a deduction twice (once on parent & once on child)?
