Hello there,
I don't entirely understand why I'm not able to get the AOC this year (TurboTax says I'm not eligible) when I have two years prior. Here's my situation:
- My daughter was not a dependent in 2019 (she was a dependent the prior two years).
- I received 529 distributions via a 1099-Q for $1716 ($390 was earnings and $1326 was the basis). I'm the custodian and my daughter is the beneficiary.
- Total school expenses were $1717.
- I did not hit the income threshold to not receive the benefit.
After reviewing some IRS documents, it appears my daughter must be a dependent for me to claim the credit? Does this mean she can claim it? Seems kind of wonky for me to pay for school, but not yield the benefits. Please advise. Thanks!
