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My son received a 1099q in his name and I received a 1098t…

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My son received a...

My son received a 1099q in his name and I received a 1098t he is my dependent. he has earnings but I claim him. do I report the 1099q on my return with the tuition 1098t

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Do I get the 2500 tuition credit

Submitted: 3 months ago.Category: Tax
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Answered in 7 minutes by:
3/26/2018
Tax Professional: Lev, Tax Advisor replied 3 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,132
Experience: Taxes, Immigration, Labor Relations
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Income reported to your so - under his name and his SSN is NOT reported on YOUR tax return - that is not your income.

However - if that distribution reported on 1099q was used to pay tuition - that amount is not taxable and is not reported on your son's tax return.

You still may claim your son as a dependent - as long as other requirements are satisfied - and may claim educational credit for your dependent.

However - when you calculate educational expenses qualified fro the credit - you will need to exclude earning reported on 1099q.

You still will be eligible for educational credit.

Let me know if you need any help.

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Tax Professional: Lev, Tax Advisor replied 3 months ago

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