Well, this whole thing feels like it really could have been at least 3 separate conversations. Things got a bit muddled up. I am not sure everyone ready everything.
You last comment about putting the 1099Q on my dependents return may be true...last year I read dozens of posts trying to figure that out. Moot or not its on mine this year. I think/hope/pray am good...and bullet proof with getting AOC my first two years... and that TT gets their update in place so I can file and put this...hopefully behind me.
My shrink says I can't come back here no more!
Seriously, I suspect I'll be back next year again but my philosophy will start with:
1) Take 1098T Box One, subtract Box 5 (which for the first two years has been her scholarships).
2) Take 1099Q Box 1 and subtract that. If there is a large negative number as a result, it means I jumped ship for Tahiti!
3) Seriously, the rest will be whatever portion of her fa19/sp20 loan they booked to tax year to 2020.
4) If that amount is greater than 4K I get AOC again. I am guessing it will show: $3250 though.
5) I think that gets me most of the $2500 and unless I pay quite a bit out of pocket for her books, or god forbid another course at the local community college, I'll just keep records for those things but probably not try to figure out how to input them to get the total $2500...its not worth the aggravation!
6) Since we will not be accepting loans going forward, the real fun comes senior year...that where using room and board comes back into play!
