-I received a 1099Q that has myself as the recipient
-My daughter received a 1098T from her college
-My daughter received scholarships and $5980 worth of my GI Bill to cover her college expenses
As I see it the 1099Q amount is taxable because it did not cover any qualified education expenses. This money is intended to provide her support through college and pay unqualified expenses. I put the 1099Q money in her bank to do so. Although I am down as the recipient how do I have this 1099Q money taxed against her at a lower rate and also avoid the 10% penalty fee since she received scholarship money?
