Does box 5 include any of the 529/ESA plan payments (it should not): No
Is any of the Scholarship restricted; i.e. it must be used for tuition: No
Box 1 of the parent's 1099-Q: $6,659.00
Box 2 of the parent's 1099-Q: $3,971.37
Box 1 of the grandparent's 1099-Q: $5,981.50
Box 2 of the grandparent's 1099-Q: $2,048.96
Who’s name and SS# are on the 1099-Q, parent or student (who’s the “recipient”)?: Parent on Parent 1099-Q, Student on Grandparent 1099-Q.
Room & board paid. If student lives off campus, what is school's R&B on campus charge. If he lives at home, the school’s R&B “allowance for cost of attendance” for student living with parents: $12,920/academic year. Parents used $6,630 from 529 to cover.
Other qualified expenses not included in box 1 of the 1098-T, e.g. books & computers. $30
How much taxable income does the student have, from what sources. $4,900 after standard deduction ($19,500 AGI). Primarily W-2 earnings, some independent contractor (delivery driver).
Are the parents eligible for the AOC (income not over $90K, $180K MFJ): No
Why isn't the student being claimed as a dependent (age, income, support): Student took time away from college and renrolled for 2024 fall semester.
Is the student an undergrad or grad student? Undergrad
Is the student a degree candidate attending school half time or more? Yes
