Thanks for the quick reply Hal. Really appreciate it. Answers / more info on my situation:
- Box 1 of the 1098-T: $28,791. The amount is lower because I also paid for the second semester starting Jan 2022 back in December 2021.
- box 5 of the 1098-T: $14,300
- Any other scholarships not shown in box 5: none
- Does box 5 include any of the 529/ESA plan payments (it should not): Pretty sure no. All 529 withdrawal was used to pay the bills from the college directly.
- Is any of the Scholarship restricted; i.e. it must be used for tuition: Not specified
- Who’s name and SS# are on the 1099-Q, parent or student (who’s the “recipient”)?: Student
- Room & board paid. If student lives off campus, what is school's R&B charge. : The 529 payment include paying for room charge and meal plan ($3,040 and $3,860 for each semester).
- Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers: Have not tracked this closely in 2021, but trying to do better tracking in 2022. Did not use 529 to pay for these.
- How much other taxable income does the student have, from what sources : No other income.
- Are you trying to claim the tuition credit (are you eligible)? : I am entering the info and forms since I received them. So it is more about doing the tax right with what info I have. I do not know if I am eligible for tuition credit - hopefully TurboTax will figure that out? If I have to guess, probably not.
- Is the student an undergrad or grad student? Undergraduate - first year college.
Hopefully this give you more info on what I need to do here.
Thanks
EY
