Hi, I have a few questions hoping you can help.
I have always claimed my child who is a college student under age 24 as a dependent. He did an internship and earned too much for me to claim him as a dependent (I think). According to turbotax because the 1098_T shows the box marked as at least half time student and he did an out of state internship for part of the year along with the income he has to file his own tax return. My questions are below:
1- On his return does he claim the 1099-Q because if he does, then it shows up as income; he is the beneficiary and all payments went directly to the University. His education expenses are about $200 more than what is reported on the 1099-Q and 1098-T (those two documents match).
2- When he was on my return I don't recall having to report it
3- Would he qualify for the Lifetime Learning Credit? Or is it because his expenses other than the $200 were covered he does not?
4- Other than the internship income and college expenses his return is very basic.
Any guidance is appreciated. Thanks
