We claim our college son as a dependent on our tax return. He received a 1098T and 1099Q under his SSN. If we report his 1098T, box 1 on our return to apply for AOTC, does that mean he can't use the tuition against the 1099Q, box 1 on his return? We have paid a total of $18K in qualified education expenses which includes $8K of tuition reported on 1098T, and $13.8K reported on 1099Q. It appears non of the distribution would be taxable, but confused on how to report all of this.
You'll need to sign in or create an account to connect with an expert.
If all of the 1099-Q distribution was used for Qualified Education Expenses, you don't need to enter it in either return.
If Box 1 Tuition is larger than Box 5 Scholarships on the 1098-T, you can enter it in the Education section of your return to see if you qualify for an Education Credit.
Here's more info on Form 1099-Q and How to Enter a 1098-T.
Thank you for the clarification.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Kaelynk
New Member
oliviampaduano
New Member
fordc1788
New Member
avaghuck
New Member
shoeless_yo
New Member
in Education