First time taxes for college student. HELP!
This is the first time through the college taxes for me. My daughter received a 1098-T showing $10,775 in box 2 and $6489 in box 5. She has Stafford loans and we have parent plus loans which have paid all expences so far. So since those are our loans is that the same as saying I paid that amount? Do I show what the loans paid out as my payments? I don't want to complete my taxes till I understand this.
In advance I greatly appreciate any help.