My daughter is not a dependent, but I paid her college tuition. I earn too much to get a 1098t deduction. Can she deduct the 1098t amount on her taxes?

bwlawson-jr — Tue, 04 Jun 2019 19:34:25 GMT

Yes, if properly structured, she can. That's exactly wha...

hbl3973 — Tue, 04 Jun 2019 19:34:27 GMT

Yes, if properly structured, she can. That's exactly what we did with one our kids. IRS Publication 970 allows expenses to be paid with borrowed funds. I set up the funding as a loan at a current Applicable Federal Rate and an initial repayment date starting after completing the education. My wife and I then gifted the maximum (I think it was $13,000 per person per year at that time) amount each as payment against the loan balance. This eliminated the loan obligation by the time she graduated.

topic My daughter is not a dependent, but I paid her college tuition. I earn too much to get a 1098t deduction. Can she deduct the 1098t amount on her taxes? in Education

My daughter is not a dependent, but I paid her college tuition. I earn too much to get a 1098t deduction. Can she deduct the 1098t amount on her taxes?

Yes, if properly structured, she can. That's exactly wha...