Coverell ESA for Room and Board

Forum|Forum|5 years ago
October 7, 2020
1 reply
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I'm working on a return for a friend and need some help with education deductions. Her daughter received scholarships in the amount of $12,450 and tuition and fees totaled $11,004. She used a coverdell esa to pay for room and board off campus (rent for apartment). She withdrew $12,027 from the coverdell. There were no earnings or basis listed on the 1099Q. FMV of $8,600 was given. Room and board based on university cost of attendance are $10,696. I entered the 1099Q and 1098T but turbo tax did not go a screen to enter the room and board amounts. I have searched the forum but can't find the specific answer. Where do I enter room and and board. Is this even deductible since the scholarships and coverdell withdrawal covered all expenses? Thank you for any help you can give me.

Carl11_2

Employee

Just go back to the very beginning of the Education section and work it through the way it is designed and intended to be used. If you do not work it through the way designed and intended, then changes are you will 'NOT" be asked for R&B expenses.

So if you just "work it through" again leaving the data that is already entered, you will be presented with screens asking if you paid R&B (to which you'll answer yes of course), and then you'll be asked for amounts.

After you finish entering those amounts, *DO* *NOT* *STOP*. Continue working through the education section the way it is designed to be used, all the way to the end of the education section. That is the only way to be absolutely certain the program will correctly "do the math" so that everything is properly accounted for.