1099 Q problem?

Forum|Forum|3 years ago
January 19, 2023
2 replies
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Our daughter is in college, and also has a job. She files her own returns. The college fund that we have set up reimburses her for tuition, rent etc. and gives her a 1099Q. Last year, she had some emergencies, and we advanced her money, and got reimbursed. Now we have a 1099Q for that amount in addition to her 1099Q. Can we claim our 1099Q as college expense for her although she is not on our return? If not, can we get 1099Q amended - how?

TurboTax Online

Best answer by Hal_Al

Q. Can we claim our 1099Q as college expense for her although she is not on our return?

A. Yes. It is not necessary that she be your dependent. It is only necessary that she is the beneficiary of the college fund and that she had enough Qualified Educational Expenses (QEE) for both her 1099-Q and your 1099-Q.

So, it depends on whether "some emergency" expenses qualify as QEE.

Anonymous_

Level 15

I will page Champ @Hal_Al so please stand by.

Hal_Al

Answer

Level 15

Q. Can we claim our 1099Q as college expense for her although she is not on our return?

So, it depends on whether "some emergency" expenses qualify as QEE.

kerkarAuthor

Level 3

Thanks. Yes; it was paid out of fund with her as the beneficiery. "Emergency" meant for example that she had no money to pay rent, and we transferred it before fund reimbursed.

Hal_Al

Level 15

Another thing to beware of: 529 money can be use for off campus living, but you are limited to the lesser of your actual costs or the school's "allowance for cost for attendance" (basically what on campus students pay for Room & Board).

The student must be half time or more.