2025年3月15日 · 1099T and 1099Q It could be right. If the amount of the distributions on the 1099-Q forms plus the amount of scholarships on form 1098-T box 5 matches (is as much or less than) the amount on Form 1098-T box 1 (tuition and fees) plus room and board, the expenses would offset the taxability of the distributions and scholarships.

2022年2月20日 · My dependent son is a full time college student and had no income in 2021. He received both a 1098-T from his school and a 1099-Q from the 529 fund administrator. Box 1 on the 1098-T is greater than box 1 on the 1099-Q. Questions: 1. Does he need to file a tax return? 2. Can I still claim him as ...

2024年2月8日 · I got the second schools 1099T first: box 1: 11,255.39. box 5: 4744.00. got 1099T from first school she no longer attends. box 1: 16,080. box 5: 34,109 . Your student has $27,335 of qualified educational expenses (QEE) and $38,853 of scholarship. $4000 of the QEE was used to claim the AOC, on your tax return, leaving $23,335 covered by the ...

2022年4月8日 · Yes, there are income limits for claiming an education credit. To claim the full credit, your modified adjusted gross income (MAGI) must be $80,000 or less for single filers or $160,000 or less for married filing jointly.

2019年6月3日 · If you received a 1098-T for 2015, understand that the student is the only person on the planet that received that specific 1098-T.

2024年2月28日 · I have read through a few of the other topics related to 1098T and 1099Q forms and none have covered the scenario I am in. My son is a freshman in college. He has 4 different 529 accounts. He also had a part time job so he has a W2 from that. For all college expenses we paid them and then got reimbu...

2019年6月7日 · Follow the steps below to enter the form in TurboTax Online: 1. Sign into your Online account and select the button that says Take me to my return

2019年6月6日 · Many financial institutions, perhaps most, use code T for those over age 59½ even though you have met the 5-year requirement to make the Roth IRA distribution a qualified distribution, requiring you yourself to assert that you have met that requirement.

2024年2月14日 · I have a question, I recently go into a graduate program where my company pays through the Educational Scholar Program (ESP). I still received the 1099-T form from my university in my name. I'm confused if I can/have to report my 1099-T form since my company pays for the classes (Unless I leave or g...

2022年2月7日 · After removing all 1099Q and 1099T as suggested above, my tax actually went up. I think it is because I can no longer claim the $2000 credit for higher education. TurboTax picked reporting "portion" of 1099Q distribution as income and taking the education credit for me. However I am still not clear how the "portion" of 1099Q as income is derived.