Thank you for helping with this.
I was trying to file for her using Free Edition and now TT saying she must upgrade to Deluxe. I think this is because I switched her NOT to be claimed as my dependent to see if that's a better use of the tax credits available given my income vs her income. Line 11 of MY 1040 is currently showing $96,355 and I expect it to increase by no more than $10k after I receive some outstanding 2020 documents. My daughter's grandfather owns the 529 and my daughter is the beneficiary.
1099Q Box 1: $9,069.92
1099Q Box 2: $4,172.60
After the school refund of $6,822.54, $5,454 (the amount paid by the 529 directly to the university) was returned to the 529 making the net 529 distribution $3,615.92. My daughter kept the difference of $1,368.54. After the university adjusted its fees, the expenses totaled $5,506.46 with scholarships totaling $6,875. This explains the $1,368.54 excess that my daughter kept.
My daughter is the recipient of the 1099Q. A 1098T was provided by the community college she attended while in high school (2020) with box 1 having $161.25. The university she attended full time in the Fall did not and will not provide a 1098T.
She paid room and board and that was shut down due to covid and the money was refunded to her (and returned to the 529 in the $5,454 mentioned above). She did pay a housing deposit of $350 in 2020 and that was not refunded.
My daughter's qualified education expenses in 2020 (after the university refund) are $5,967.71 (tuition and fees), $350 (housing), and $3,055.92 (computer, books, etc.). This totals $9,373.63. Her scholarships totaled $6,875.
My daughter had W2 income of $2,998.91 and 1099G income of $6,030.00. She paid estimated taxes of $1,000.
Thank you for helping! I really appreciate it.
