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Education
Thanks for answering @Hal_Al . I know that all of those expenses are OK for the 529. What I am asking about for 2018 is if the expenses on both returns have to match and/or if both need to add up to the total. Do they coordinate the numbers? Here's what I mean:
On our return I put the 1098-T and my husbands 2K 1099-Q. The 1098-T made it so that we got the AOTC and the 2K 529 withdrawal was not taxable. I also put in her other expenses (not sure if I should have)
On my daughter's return I put HER 1099-Q which was fully taxable at first and was more than the amount on the 1098-T. Then I put in the 1098-T and her other expenses and indicated that 6K was used on our return. After all of that was done none of her 529 distribution was taxable.
Do I have to reconcile this in any way? I know you said that the 1099-Qs are not reflected on the actual return but I am not wanting to raise any red flags (especially as a late filer).
Also do you have to take 529 withdrawals in the same calendar year as the 1098-T says you paid and as you incurred other expenses? Our 1098-T's are totally messed up and we didn't take nearly enough out in 2019 based on what the 1098-T says.
Thanks again