Determining Qualified Education Expenses
year of college. They have a Form 1098-T with $7,000 in box 1 and a $3,000 Pell Grant in box 5. During your interview with Bill and Sue, you determine that $3,000 was paid in September 2020 for the fall semester; $3,000 was paid by Pell Grant and $4,000 was paid by loan proceeds. They paid $500 for books in 2020. To calculate the eligible ... ................
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