Looking for some advice on how I should enter education related forms etc.
Here’s my situation:
I’m married filing joint with my wife.
I have one child a sophomore in an out of state college
I am the owner of a 529 plan and my child is the beneficiary.
My child had a summer job and has a W-2 for her earnings but the earnings do not account for 50% of her expenses.
For 2018 my child was my dependent and I claimed all the education credits and entered the 1098-T and 1099-Q on my return.
The 1099-Q is issued to me as I take the distributions and pay the college.
Going forward we are trying to get my child in state tuition so she has been going through the steps required by her college to establish residency in her college’s state. One of the requirements is that she no longer be claimed as a dependent on my tax return.
So my questions are if for 2019 I no longer claim her as a dependent :
1) am I able to not claim her as a dependent?
2) on her tax return should she still check the “I may be claimed as a dependent on some one else’s return” option, even though we won’t claim her?
3) on whose tax return should the education expenses, 1098-T and 1099-Q be entered?
4) On whose return should the 1099-Q be entered? Mine because its issued to me, or her’s as a non-dependent beneficiary?
Thanks in advance for any advice you guys can provide.
