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- College credit - paid with college fund
College credit - paid with college fund
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Colmatt
Level 5
04-15-2021
12:46 PM
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Student in grad school, he is not a dependent of parents. His grandparents set up "CollegeAmerica" funds with American Funds and the funds make payments directly to the college. Nobody receives a 1099--Q, I assume because the funds go directly to the college. In this case the 1098-T says $7,000 paid for tuition and fees, yet $10,535.78 sent to college. The $10535.78 agrees with college invoices for tuition and fees.
Just ignore all because the student didn't pay any tuition and fees himself?
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