- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Education
Without being able to see your return, basically if the Box 1 amount on your 1098-T is larger than the Box 5 amount, you may qualify for an Education Credit.
If you claim your student as your Dependent, enter the 1098-T in your return, no matter who paid the expenses.
If the Box 5 amount is larger, there may be taxable income on the excess scholarship. If so, enter the 1098-T in the student's return (if they are required to file a return).
If the 1099-Q Distribution was used entirely for Qualified Education Expenses, you are not required to enter it either your return or your student's.
Click this link for more info on the 1099-Q.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎April 9, 2020
11:55 AM