I attach an image at the bottom of this post of a relevant part of my student's information worksheet related to education expenses.
The input numbers (provided via the interview process) are:
Tuition and related expenses: 42,518
Book: 128
Room and Board: 12,522
Scholarship: 16,000 (non taxable)
When I look at the generated Student Information Worksheet (image attached at the bottom) I cannot understand the number $14,124 in item 18 "Use for exclusion" in the column for AOTC. I don't know how it was arrived at. I thought it should be $4000/-, the exclusion for taking the AOTC (just as it is for the 529 plan - see three columns over).
Please can someone explain how this number ($14124) was arrived at?
Any help would be appreciated.
