Prepaid Tuition/Taxable Scholarships/AOTC question

twoinanddone
Thu, 31 Jan 2019 03:07:58 +0000

Your son pays the tax on any taxable scholarships. He will get $12000 as a standard deducion so it might be best for him to claim all of it as taxable and then you (on your tax return) can take the AOTC. Anything used for room and board does not count toward the AOTC