Situation is that I am filing a joint return with my spouse and college going son as “dependent”. I have got 1099-Q and 1098-T forms with my son’s SSN.
I enter all the 1099-Q forms and 1098-T forms in Turbotax Deluxe on the joint return. I get credit of Child tax credit $500 for my son and $2500 American Opportunity Tax Credit – this is after showing $4000 of the portion from Coverdell ESA as taxable (to get the $2500 credit). All the portion of the Coverdell ESA and State Tuition Plan (MET) are qualified expenses.
Turbotax then asks me to file a return for my son for the Scholarship amount as Unearned Income. I prepare a return for my son and the answer to “can someone claim you as a dependent” and I answer “yes”. Do I need to enter all the 1099-Q and 1098-T forms again in my son’s return? The American Opportunity Tax Credit is already claimed in our joint return…
Where do I enter the Unearned Income in my son’s return? The form 8615 in the forms view shows in red caps as “DO NOT FILE”. So not sure what that is…
Any guidance? Thanks..
