What tax issues should I prepare for?

twinmom71
Sat, 31 Mar 2018 13:26:12 +0000

This is news to me so I hope it’s ok that I ask my own question on your post! My D received at $30,000 merit scholarship. Will she end up having to pay taxes on that?? We will be paying the remaining $40k out of our savings and taking on some debt. Can educational expenses be written off and if so, should we gift her money to spend? Clearly I need to talk to an accountant but any help is MUCH appreciated before we start spending anything!