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Level 3
March 4, 2024
Question

Does taxable dependent child's scholarships belong on dependent child's tax return or partents?

  • March 4, 2024
  • 1 reply
  • 9 views

On 1098-T for a dependent child, box 5 scholarships exceed box 1 qualified tuition and expenses by $15,000.  Which tax return does the $15,000 taxable scholarship belong on dependent child's tax return or the partents?

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    1 reply

    sjrcpa
    Level 15
    March 4, 2024

    Dependent child's.

    But, 1098-Ts are notorious for being incorrect. Have client get a transcript from the school to see actual tuition payments.

    The more I know the more I don’t know.
    mikeburgAuthor
    Level 3
    March 9, 2024

    yes