Agreed. I idea of outcome is important.
Provide the following info for more specific help: my answers after the = sign.
- Are you the student or parent. = I am the parent.
- Is the student the parent's dependent. = yes, the student is my dependent.
- Box 1 of the 1098-T = $10,450
- box 5 of the 1098-T = $8,125
- Any other scholarships not shown in box 5 = no other scholarships
- Does box 5 include any of the 529/ESA plan payments (it should not) = it does not.
- Is any of the Scholarship restricted; i.e. it must be used for tuition = no restrictions
- (There are two 1099-Qs, 1 in my name & 1 in my son's name)
- Box 1 of the 1099-Qs = $10,000 (son's) / $5000 (mine)
- Box 2 of the 1099-Qs = $6483 (son's) / $3140 (mine)
- Who’s name and SS# are on the 1099-Qs, parent or student (who’s the “recipient”)? recipient of the $10,000 is my son. recipient of the $5,000 is me.
- Room & board paid. If student lives off campus, what is school's R&B on campus charge. If he lives at home, the school’s R&B “allowance for cost of attendance” for student living with parents. = Off campus living @ $4,525.00
- Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers = Other QE's $17.55
- How much taxable income does the student have, from what sources = Earned income = $10,624
- Are you trying to claim the tuition credit (are you eligible)? Yes, American Opportunity Education Credit. In my return, an AQEE is calculated at $2,343. The software asks a question about this on son's return.
- Is the student an undergrad or grad student? = undergrad
- Is the student a degree candidate attending school half time or more? = full time student, in a degreed program.
