Did you have any 'out of pocket' Education Expenses that were not covered by Scholarships or 529 distributions? If not, you don't qualify for an Education Credit and don't need to enter either the 1098-T or 1099-Q in your return.
If 529 Distributions were only used for Qualified Education Expenses (which would include room and board), you don't need to enter the 1099-Q in your return. Click this link for more info on Form 1099-Q.
If you believe that your daughter has Taxable Scholarship Income, enter the 1098-T's and 1099-Q on her return.
You can enter Education Expenses not reported on a 1098-T (save your receipts), such as Tuition, Books, etc. Just enter the school info and indicate that 'you didn't receive a 1098-T'.
The AOC credit amount is equal to:
- 100% of the first $2,000 of qualified expenses, plus
- 25% of the expenses in excess of $2,000.
Review the Student Information Worksheet to see how the credit is calculated.
Since we can't see your tax return in this forum, you may want to request an Offline Review if you need more help.
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