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Educational Expenses
I am the owner of 529 plan and my daughter is the beneficiary. 1099-Q was issues on my name (as I am the owner) and full amount withdrawn was paid for my daughter's college Tuition and fees. 1098-T was issued by college on my daughter's name. My daughter got married in 2024 and will be filing Tax returns with her spouse. She has no income in 2024. What is the best way (Who and how) to report 1099-Q on Tax returns.
1. Can I (parent) show both 1099-Q and 1098-T, without claiming my daughter as dependent?
OR
2. Can my daughter can show both 1099-Q and 1098-T and claim Educational Tax credit.
Thank you.
March 24, 2025
1:13 PM