@vasto7 I think you're getting confused by the bits and pieces and entry screens. You need the whole picture like this:
Tuition = 32,000
Scholarships = 17300
R&B and other = 10,000
529 withdrawal = 24500
Amount needed to max AOTC = 3,700
Total Bond withdrawal = 13,000
Additional info needed:
How much is the bond interest?
How much other income does the student have? From what source, W-2 or something else?
What is parent's marginal tax rate?
How much earnings (box 2 of the 1099-Q) on the 529 distribution?
Was the 1099-Q issued to the parent or student (who is the recipient)?
Why are you limiting AOTC to $3700?
Be aware there is an income limit (MAGI) for claiming the savings bond interest exclusion. $106,850 for most filing statuses, $167,800 for married filing jointly. The interest being excluded is added to AGI to determine MAGI.
