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Education
Yes. Understand this when it comes to taxes and education.
- Scholarships, grants, 529 funds, etc, are claimed as taxable income (*initially*) in the tax year they are received. It does not matter what tax year that money is *for*.
- Qualified education expenses are claimed in the tax year they are paid. It does not matter what year is paid *for*.
‎June 5, 2019
11:29 PM