HI! I have another quick question. The college let us know there's a mistake on a previous year's 1098 so we will have to amend. Before he had excess in Box 5 and we adjusted entries on both of our taxes in order to claim the AOTC and he reported the taxable excess on his. Now, our dependent son has these amounts:
Box 1: $34,498
Box 5: $32,350
He does have a few "other" expenses but that puts him just over $3k.
Books: $558
Laptop: $369
I'm wondering since he doesn't have the full $4k of QEE in Box 1, can we enter $2k, instead of $4k in our box 1 so we can claim the full AOTC? And then $2k less on his Box 5?
Thank you!! 🙂
