Good timing. We had to go to an accounting firm for my mother-in-law... That's another story but... While there I talked about the 1099q,
1097t , the fact that my daughter commutes and if my 1099t payments - scholarships - 529 payments equals 0 if there was some way I could still get the AOC credit.... ie can I show $4,000 worth of expenses... Be at paying for her food or her living at home etc.
He chuckled and said he does not believe so.
He could be wrong I don't know but I'm not convinced it's a definitive yes or no either way... perhaps someone should call the IRS.
For this year it's not an issue.I have $4,000 in loan expenses. Next year... well time will tell.. I plan on using just the 529 next year and no longer taking out any loans so it will be interesting to see what happens.
I reallyw wisht were defensive answer to this.
The accountant also suggested it would be best to file the 1099 q. I agree it would be nice if TurboTax could collect all the information I e information from the 1099-q information on books I purchased outside of that information on a course she took at the community college in the books I bought for that etc etc. It would be nice if TurboTax could collect that either presented to the government or create an ice sheet for me to have for my records but for now I will just staple everything together and put it in a folder because again I'm not 100% sure where to do that how to get to it and again if the whole room and board thing is even possibilty.
it's late I'm a little weary eyed... I hope this post came out okay because this app certainly leaves a lot be desired.
