Do I include my son's scholarship money he received as income on my taxes?

deew16 — Thu, 06 Jun 2019 06:29:57 GMT

I'm claiming him as a dependent. He doesn't have a job and he lived with us the entire year. We still support him. Also we took out money from a college account to pay his tuition along with the scholarship. Do I include that too? It is a 529 college plan.

Yes, but not as income. First enter the 1099-Q (for the...

KenH1 — Thu, 06 Jun 2019 06:29:59 GMT

Yes, but not as income.

First enter the 1099-Q (for the 529 distribution) in:

Deductions & Credits > Education > ESA and 529 qualified tuition programs (from 1099-Q)

Then enter the qualified educational expenses:

Deductions & Credits > Education > Expenses and Scholarships (Form 1098-T)

When you get to Here's Your Education Summary, scroll down and start Scholarships/Grants (for all schools)

This will offset your qualified educational expenses.

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Do I include my son's scholarship money he received as income on my taxes?

Yes, but not as income. First enter the 1099-Q (for the...