Turbotax not deducting tuition expense
This question relates to my 19 year old daughter's return who I plan to claim as a dependent. She is a full time college student. I have not completed my tax return as i've been waiting for some final tax documents.
Rough Details:
- 1099Q issued to my daughter shows $24k dispursed from 529 (round number)
- 1098T issued to my daughter shows $18k tuition paid to college (round number)
- $2k was used to buy a computer / books
- $4k withdrawn (covered by scholarships listed on 1099Q)
Everything enters fine in the deduction section under college expenses including the computer/book, but when you look at the summary of deductions the $18k in tuition does not show up. When you then go to the final summary of incomes / deductions it lists the $24k in 529 dispursements as income, but does not deduct the $18k spent in tuition and gives her a nice tax bill.
Any ideas?
February 9, 2022
1:56 PM
