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@Hal_AlI'm still hoping I can understand how to show the housing expenses if I do go ahead and try to re-enter all this info! When I followed the instructions before it never asked me to show what was housing (which should qualify for a tax-free 529 withdrawal, but not count otherwise, correct?). Thank you!
Q. I'm still hoping I can understand how to show the housing expenses. When I followed the instructions before it never asked me to show what was housing (which should qualify for a tax-free 529 withdrawal, but not count otherwise, correct?).
A. That's correct. To get TT to give you the room & board (R&B) entry point, you must enter the 1099-Q before you enter the 1098-T (so TT knows you qualify). To get the screen to enter Room & Board, answer yes, in the educational (1098-T) expenses section, when asked if you have book expenses.
Rough numbers: if you claim the AOTC, you get $2500 and your student pays less than $300 tax on the extra income.
@Hal_Al Okay that worked. Thank you so much!
Thank you so much! I was getting so frustrated.
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