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TurboTax says scholarship of $20k is TAXABLE for daughter even though college cost was $79k
Basics.
Tuition and room/board= $79k
Scholarship/financial aid=$20k
Out of pocket paid to school=$59k ($18k of which came from 529).
TurboTax says: "XXX's education assistance counts as income ... they exceed education expenses"
But they obviously don't. Any thoughts?
‎February 6, 2021
1:40 PM