My now non-dependent son graduated college last year and is working. We already filed his taxes, using the 1099-Q (in our name with him as beneficiary) and 1098-T (in his name). Since his expenses were more than the 1099-Q amount he received a partial lifelong learning credit which we are not eligible for. This seemed like a good idea at the time.
In past years we always used the 1099-Q on our return.
I am doing our taxes now and it seems like I need to use the 1099-Q and 1098-T but I cannot because he already used it.
Is this a problem? Can I enter them on our return? All I need to do is offset the 1099-Q amount.
Thanks.
