Q. So, even though my son's ss# and is listed as an FBO on the 1099-Q he does not need to report it on his tax return, as long as I report it on my tax return?
A. You're saying it wrong. Nowhere on the 1099-Q does it say who the beneficiary (FBO) is. If his name and SS# are on the form, they are there because he is the "Recipient" of the funds and the 1099-Q. As such, it gets reported on his return, not yours, if it even gets reported at all.
"The amount of distribution is far less than his actual tuition." That means you can skip entering it all, as long as you account for any scholarship or tuition credit claimed.
For any follow up questions, provide numbers (box 1 of the 1099-Q, boxes 1 & 5 of the 1098-T, any other expenses paid, not shown on the 1098-T {room & board, books and a computer]).
