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Education
Scholarships in excess of tuition are taxable income to the student that had the scholarship. That should be on line 1 of the students tax return with SCH next to it. Scholarship are the students income and not the parents.
If the 20K 529 paid the institution then the scholarship would be a taxable excess.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
‎July 11, 2020
7:14 PM