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College paying for a student's childcare expenses
January 15, 2024
Q. If the college is paying a vendor for a student's child's childcare, do we add to their 1098?
A.
(Answered by IOFM's third-party tax experts)
Form 1098-T reports the amount the College received from the student (or others on behalf of the student) for the student's qualified tuition and related expenses. This amount, reported in Box 1, is not reduced by any scholarship or grant amounts. "Qualified tuition and related expenses" means the amounts of the tuition and the fees and course…
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