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I recently learned that college scholarships used to pay for
I recently learned that college scholarships used to pay for non-qualified expenses such as room and board are considered taxable as unearned income. Are there any exemptions to this IRS policy for lo… read more
Barbara
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If I give an employee a $1,000 scholarship for college is
Hello, If I give an employee a $1,000 scholarship for college is that tax deductible? Or do I have to do it through payroll?… read more
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I am completing taxes in Turbo tax and am now on my college son's 1098-T. He received a merit scholarship and assistance from both the university his father works at as well as from the university I w… read more
emc011075
emc011075
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I just received that on a few old fafsa, I never included my
Hi, I just received that on a few old fafsa, I never included my 1098T information since at those times I was not working. I'm a fist gen student and I didn't know I had to include them (they are incl… read more
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I had a question regarding scholarships and tax liabilities
Hello, I had a question regarding scholarships and tax liabilities when giving one from a sole proprietorship. … read more
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I have a college age student and am trying to figure out if
Second opinion] Hi - I have a college age student and am trying to figure out if I can claim him as a dependent I don't think he meets the requirement of my providing more than half his support … read more
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I need help understanding the tax rules for my son's college
I need help understanding the tax rules for my son's college tuition. Here is the situation with fake round numbers for simplicity:My son Michael (claimed as a dependent) began his freshman year at co… read more
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FIRST TIME FILLING FORM 1065, MY BUSINESS IS RENT PROPERTY.
IM MY FIRST TIME FILLING FORM 1065, MY BUSINESS IS RENT PROPERTY. I BOUGHT A HOUSE IN AUG/2018 CASH AND RENTED ONLY FOR 3 MONTH. I'M CONFUSED IF PLACED THE MY OWN MONEY ON SHC K-1LINE L PART 3 … read more
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My daughter was considered a full time student (college) in
My daughter was considered a full time student (college) in 2017 and 2018. In 2017, tuition charges were applied. In 2018, scholarships and grants were applied. Its a divorce situation, and her father… read more
emc011075
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I have a question about deducting room and board for my
I have a question about deducting room and board for my son's college since it is required by the school that he stay in a dorm with a meal plan in order to keep his scholarships. … read more
Barbara
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Regarding that inheritance. It would be a check from my mom.
Regarding that inheritance. It would be a check from my mom. It is a life insurance policy that my dad had that he stated he wanted me to have 100k. Questions. 1. If she writes me the check for 100k a… read more
Lev
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My son was awarded a prize of $5000 intended as a college scholarship. They
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Phillip B, EA
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My 20-yr-old child is a full time student at a university.
My 20-yr-old child is a full time student at a university. She has a large scholarship which covers most of her expenses. My wife and I agreed to pay some of her tuition because we did so for an older… read more
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I once heard that if you keep your receipts of things you purchased
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Lev
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My son went to college on an ROTC scholarship that paid for
My son went to college on an ROTC scholarship that paid for his tuition for the first two years. After two years, he dropped out of ROTC and is now having to pay back the scholarship. Can he claim the… read more
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My son is father of two college-aged daughters, ages 21 and
My son is father of two college-aged daughters, ages 21 and 22. Their mother left and cannot be located. There is a divorce. I have been paying most medical bills, medical insurance, and furnishing mo… read more
RD
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Regarding the Support Test for a Dependency Exemption, ...
Regarding the Support Test for a Dependency Exemption, if a taxpayer's child, between ages 19 and 24, is a full time student at an expensive college, is the entire amount of tuition at the college a s… read more
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my father in law set up a scholarship a few years back, he ...
my father in law set up a scholarship a few years back, he put $20k in an endowment and now would like to cancel it because its not making enough interest to keep up...is it possible to cancel it and … read more
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