How can the parent's return do the proper calculation for taxable 1099-Q income if you don't enter the 1099-Q on the parent's return along with the 1098-T since the parent gets the education credit? Don't you need the 1098-T and the 1099-Q on the same return for TT to determine taxable income which then gets reported on the dependent student's return?
I don't understand what good it does to report the1099-Q on the dependent student's return since the full amount of the distribution might not be taxable and the justification for that calculation was done on the parent's return. Why wouldn't you just report the net taxable income on the student's return and not enter the 1099-Q there? This is very confusing and big tax circle.
