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Education
If you got a distribution from a 529 plan, where you were the owner (and recipient), and your grandchild was the beneficiary, then, yes, you can claim the expenses on the 1098T to keep that distribution from being taxable. But, you must coordinate with the parent and/or student so that there is no double dipping. You cannot use the same expenses that the parent uses to claim the tuition credit or the student uses to claim his scholarship as being tax free. The family must allocate the available expenses to the three (or more) tax breaks.
‎February 13, 2025
11:55 AM