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February 1, 2022
Question

1098 and ESA

  • February 1, 2022
  • 1 reply
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We transferred some money from an Education Savings Account into our linked checking account and then immediately paid out that exact amount to a school (plus a bunch more separately).  But, we are shown as "recipients" now on a 1098 and it says we can't take the Education Credit.  How can I fix that?  Thanks!

1 reply

February 1, 2022

Could you please clarify a little? Are you shown as recipients on the 1099-Q for the withdrawal from your Education Savings Account? Whose education were you paying? Was it yourself, a spouse, or someone listed as a dependent on your return? Did you receive a 1098-T from the educational institution?