My sons college is paid by his trust left by his mother(deceased).
I received a 1098-T for the tuition paid. I read the 1098-T and it states:
"You, or the person that may claim you as a dependent, may claim an education tax credit..."
I claim my son in my taxes as my dependent, so does that mean that the trust can't claim the education tax credit? Do I need to report this on my taxes?
Just wondering as this is our first 1098-T, and I don't know who needs to use this.
Thanks,
Ed
I received a 1098-T for the tuition paid. I read the 1098-T and it states:
"You, or the person that may claim you as a dependent, may claim an education tax credit..."
I claim my son in my taxes as my dependent, so does that mean that the trust can't claim the education tax credit? Do I need to report this on my taxes?
Just wondering as this is our first 1098-T, and I don't know who needs to use this.
Thanks,
Ed
