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Education
Thanks for all your education related tax posts Hal_Al. Can I confirm something? I have a student with basically full ride, last semester. 1098-T box 1 is $29k scholarship box 5 is $36k. The $7k difference is room and board.
Done with AOC after 4 years, but there is another student in the family with enough for LLC max.
Question about first student, that $7k is recognized as scholarship income. Does that free up any of that $7k for use with 529? Is that a double dip if the room and board portion of the scholarship is being recognized (as required) as income?
March 4, 2025
7:01 AM