RE:
From what I gather in this thread, the following things are true
- The student qualifies to be claimed as a dependent on the parent's tax return.
- The student is "in fact" being claimed as a dependent on the parent's tax return.
- The total qualified education expenses paid in 2019, exceeds the total of all scholarships, grants, 529 distributions received in 2019.
If all the above is true, then the parents claim "ALL" on the parent's tax return. Period. End of story. One additional note here concerning 529 funds.
Well...this is sort of where we started. Yes based on thisand if her loans that paid tuition count towards the $4k then yes I think I am good.
At one point I thought this was the easy part!
The issue that came out of this was what if the net of the 1098T and 1099Q were zero, potentially meaning after scholarships the balanceof payments were made entirely from the 529 plan. Based on that...no AOC....unless you perhaps have a lot of books....and if the student lived at home???....ROOM AND BOARD!!!....that's where this thing started to head anyway...can a parent write off R&B...and I do not really think the R & B has been definitively answered by someone 100% in the know....Someone call the IRS!!! LOL
