I am not sure my math is any different but let me know ....You cannot overdraw your 529. Th 529 does not count towards expenses. The difference between Total Payments less scholarships less 529 payments must be $4k or more. No?
Issues might be that you have made payments NOT captured on the T form..books or tuition paid when daughter messes up and has to take a course over the summer at a community college instead of her main college!!!
I am just not convinced on the room and board. It might look suspicious that you just start reporting the r&b expenses the year you happen to need it! I guess if you report it all along, your dependent shows enough on his/her filing to cover to $4k you charge, you have them right you a check each month, if you give the money back but it does not go into her account bla bla bla..maybe you can convince them its legit. In these cases, my guess is more people get lucky by not filing the Q than those audited after suddenly putting in the the r/b.
Me, I want what I am entitled too without gaming the system.
Now, has anyone submitted their stuff electronically via TT? How do we know they are sending the Q info anyway! When I ask it to 'print' ALL forms..I see stuff...but when I ask it print 'Forms for filing' I do not see it. I noticed that last night!
