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March 10, 2020
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Can I deduct son's college tuition I paid from a 401K cash out?

  • March 10, 2020
  • 1 reply
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Best answer by JotikaT2

Yes.

 

The two items are unrelated to each other.

 

The tuition paid and reported on a 1098-T form would be reported in the federal section of the return.

  1.  Select "Deductions & Credits"
  2.  Select "Expenses and Scholarships (Form 1098-T)" and click start
  3. Select Edit to review your information for the 1098-T

Continue through the screens and answer the questions as applicable. TurboTax will determine which credit you qualify for based upon your answers. 

 

If you have entered additional expenses that are not on the 1098-T, please be sure to add those on the following page under "Other Education Expenses".

 

1 reply

JotikaT2Answer
March 10, 2020

Yes.

 

The two items are unrelated to each other.

 

The tuition paid and reported on a 1098-T form would be reported in the federal section of the return.

  1.  Select "Deductions & Credits"
  2.  Select "Expenses and Scholarships (Form 1098-T)" and click start
  3. Select Edit to review your information for the 1098-T

Continue through the screens and answer the questions as applicable. TurboTax will determine which credit you qualify for based upon your answers. 

 

If you have entered additional expenses that are not on the 1098-T, please be sure to add those on the following page under "Other Education Expenses".

 

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