How do we declare more of the scholarship as taxable income in this situation in TT 2025 desktop version? Recap the amount from my original post: Tuition expenses: $25,000 Room & Board: $12,000...
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How do we declare more of the scholarship as taxable income in this situation in TT 2025 desktop version? Recap the amount from my original post: Tuition expenses: $25,000 Room & Board: $12,000 Books & Computer: $2000 1098-T in his name: Box 1: $25,000 Box 5: $40,000 TT puts $15,000 scholarship as taxable income. 1099-Q in his name: Box 1: $39,000 TT uses this to cover $14000 and calculates the earning portion as taxable income. Where in TT do I change the amount to allocate $4000 to claim AOTC? If I say scholarship is used to pay Room & Board/other expenses for $19,000. that gives $40,000 - $19,000 = $21,000 is used to cover Box 1 $25,000 Tuition? But leaving $4000 in tuition will still be covered by the 1099-Q withdraw. Am I just out of luck to use “loop hole” available to claim an education credit?