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Education
As I recall from the brief look I got at your post, the only change from the above information was that you took three 529 distributions, two to you and one with the student as recipient. I think you also identified that some R&B was covered by one of the distributions.
But, basically, there's too much unnecessary detail. You're looking for generic "how to" answer, for a complex situation. Although TT can theoretically handle all that, it's best to use a work around based on your actual numbers.
Provide the following info for more specific help (I know you provided it already, but I need it in one place):
- Are you the student or parent.
- Is the student the parent's dependent.
- Box 1 of the 1098-T
- box 5 of the 1098-T
- Is any of the Scholarship restricted; i.e. it must be used for tuition
- Box 1 of the student's1099-Q
- Box 2 of the student's 1099-Q
- Box 1 totals of your two1099-Qs
- Box 2 totals of your two1099-Qs
- 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.
- Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers
- How much taxable income does the student have, from what sources
- Are you trying to claim the tuition credit (are you eligible)?
- Is the student an undergrad or grad student?
- Is the student a degree candidate attending school half time or more?
April 4, 2024
4:56 AM