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Parents do not qualify for Amer. Oppor. credit. Can student claim 529b proceeds & student loan as "earned income" to qualify as earning more than 50% of his own support?

 
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MinhT
Expert Alumni

Parents do not qualify for Amer. Oppor. credit. Can student claim 529b proceeds & student loan as "earned income" to qualify as earning more than 50% of his own support?

No, 529 distributions and student loans cannot be counted as income for the student to determine whether he provided more than half of his own support.

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MinhT
Expert Alumni

Parents do not qualify for Amer. Oppor. credit. Can student claim 529b proceeds & student loan as "earned income" to qualify as earning more than 50% of his own support?

No, 529 distributions and student loans cannot be counted as income for the student to determine whether he provided more than half of his own support.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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