Yes, that is correct. Please just keep track of which expenses were paid under the 529 so you do not duplicate in 2020 and claim the education credits-- essentially when you get the 1098-T in 2020 do not just enter it in TurboTax- you will have to subtract out the amount you applied in 2019. It would be nice if the IRS would have a better system to keep track of the credits/529s as a running balance because currently it can get confusing.
@jo-ko
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