Student Loan & Education Tax Topics

Education

Student Debt Relief Plan: Am I impacted?

On August 24, 2022, President Biden, Vice President Harris, and the U.S. Department of Education announced announced a three part student loan debt relief plan to help federal student loan borrowers following the pandemic. The three part plan include... read more

For a 1098-T, if box 1 and 5 is the same, what do the student put as the portion for employer assistance when they answer yes to receiving help to pay for school.

My education is paid for by my employer, Amazon, through their career choice program. Because i start school in May of 2024, my position as a student is half-time. Therefore, i was unable to utilize my full 5250 tuition assistance, causing box 1 and ... read more

Do I say yes to using money from a qualified education program if a 529 was used but I was not the one who funded it?

A 529 was used for my daughter's (my dependent) college costs. However, her grandparents were the ones who made (& contributed to) the 529 plan for her, I did not. Do I need to answer yes to the question "Did you use money from a qualified education ... read more

Is room and board covered by the California Middle Class Scholarship?

Does the California Middle Class Scholarship allow you to cover room and board expenses tax-free?If that's not the case, can I report the additional California Middle Class Scholarship money that exceeds my qualified educational expenses as taxable i... read more

What if you don't receive a form 1098

STUDENT FINANCIAL SERVICES STATEMENT OF ACCOUNT

Hello, I have a STUDENT FINANCIAL SERVICES STATEMENT OF ACCOUNT and it has an amount for SUMMER STUDENT SIPEND (I think it should be STIPEND) and the same amount for REFUND-FINAID-MANUAL. Do I record this somewhere in TurboTax? Please see the stateme... read more

1099Q report or not?

I received a 1099-Q and would like to know if I need to report it on my tax return.I am the recipient, and my daughter is the beneficiary. The gross distribution was $22,000, which I used to pay for her tuition. TurboTax prompted me to enter the 1099... read more

savings bonds to 529

Situation - Eligible savings bonds cashed and deposited to 529 - All eligibility rules / income guidelines were met to exclude ALL the interest from the savings bond - However, the only way I can get TT desktop to exclude ALL the interest is by enter... read more

Where do I enter rent payments for a student paid for by a 529 plan?

The student is my child but not a dependent. She is a half-time student

Can I enter daughter's student loan payments?

I was a co-signer on child's student loan and paid the loan off. Can I enter that amount?

Summer tuition is not included in my 1098T only Fall/Spring. Where can I report my summer tuition expenses to offset my income?

first time filing

I live in NJ and I am still a dependent (age 22). I was a full time undergrad until May 2024, now a full time Grad student since Aug 2024. I made some money as a tutor and Grad assistant in both schools located in PA. I'm filing for the first time to... read more

Can we write off some of the money we paid towards our daughter’s apartment while attending college?

She is claiming herself this year. Can we still claim the amount of money we paid towards housing?

Education account

Are MUTA contributions (same as 529 account) for grandchildren tax deductible for state of PA?

2024 529 Contributions and Form 8815

This year I converted upwards of 60 series EE bonds issued post 1989 and deposited into my 5 year old daughter's 529 account. We had a no education expenses, and only made contributions to the 529.Turbo Tax Deluxe Desktop is prompting me to fill out ... read more