Here is the problem I am having. I am the parent and owner of a 529. All (for one college student/child) and a portion of the other students earnings are coming through as taxable income. I can't figure out why. I have education expenses that match the 529 withdrawal and I am not eligible for any other education credit or income deduction due to income level.
I can't figure out if Turbo Tax is applying some of my education expenses for education credit expenses credit....and if so, how to change it.
The 1099-Q comes to my SS # and the 1098T for the kids, but I have them both input in Turbo tax for the income and expenses.
I also noticed that I overpaid tax last year with this same situation....about to switch tax software if I can't figure it out.
