So.....after pouring over the numbers and trying to understand it all, I've come up with a new question. What if I don't claim the AOTC this year and claim her 4th year of AOTC on 2021 taxes? She graduates in May but will have about half of what is shown this year so we should be able to move things around next year when we file.
I looking at this years 1098T and the associated supplemental info the college website provides, it does appear that the $2840.50 was included last year. I still haven't figure out how exactly they got that number but I guess we made 2 $1000 payments in December for her Jan class/trip and there was another payment also in Dec for $1450. I can't figure out what that was for but they come up with $2840.5 somehow. The $1450 was for tuition ( plus a returned check fee oops) for the class which was actually charged in 2020. I think that was actually the $1330 amount that they subtracted to get the $1500.50 adjustment. However, they charged the $2000 trip fee in 2020 and it shows under the supplemental info on the 2020 1098T while the payment showed in 2019. They seemed to have made corrections showing trip charges and payments moved to 2020 supplemental info. So...I say it's a mess.
She did not do a January Class this year so there should be less confusion. I guess I still need to know what to do with these numbers. If I just follow the turbotax questions, will it tell me what to with the amounts? Also is there anyway to take the Lifetime Learning Credit this year or does this all mess that up as well? Thanks for any thoughts on this situation.
