I have read a lot of similar situations in this community posts however I'm still a little confused.
Received 1098 T with box 1 $31,000 and box 5 $42,000
Paid out of pocket for books and materials: Bought from the school $800
Bought not from school $ 1,000
I reported the 1098 T on my daughter's return and TurboTax calculated the taxable scholarship
$11,000 and showed it on Schedule 1 on line 8r
On my return, I reported the $ 1,800 out-of-pocket qualified education expenses and got some AOTC.
Question: Is the $1,800 out-of-pocket qualified expenses need to be deducted from my daughters
return? $11,000 - $1,800 = 9,200. Instead of 11,000 should it be $9,200
If the $1,800 need to be reported on my daughters return then do I need to remove that amount from my return?
1. Do I need to reduce the taxable shcolarchip by $1,800 on my daugthers return
2. If so where do I show that amount on my daughters return
3. Do I need to remove the $1,800 from my return
Thank you!
