Also, one more question - I have been going a bit more granular on the actual expenses since not everything eligible under 529 is eligible under AOTC and vice versa. Is this necessary (for example, fees not on the 1098-T that are still mandatory do not appear to be eligible under AOTC so I'm carving them out to be paid for by 529. And room and board not eligible under AOTC so has be under 529.
If I don't separate out items for 529 vs AOTC then I can just follow the simple approach:
total educational expense: $20,911
Minus tax free scholarship: $9671
Minus AOTC of $4000 (or a lesser amount of my choice in order to get at least $2000 AOTC eligible expenses) - maybe this is the part where my calcs decide how much of the expenses are eligible under AOTC? It is not a full $4000 to be sure.
Equals $7240 can be used against 1099-Q
THanks!
