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Education
Still trying to figure out education expenses:
My daughter received both a 1099-Q and 1099-T in her name and SSN. I am claiming her as a dependent, but she also had income from a summer job, so she's filing her own return. I've read varying opinions on who reports what on their returns. If my daughter includes the 1099-Q and I report the 1099-T, she ends up owing a bunch since I have all the education expenses on my return for which the 529 funds were used (reported on her return). It seems like both should be on the same return; the question is which one?
‎April 18, 2021
8:16 AM