Thanks Carl and Hal_Al.
In answer to your questions-
- student had earned income of $3858
- we have two 1099-Q's: one to parent ($8000; $5408 is earnings) and one to student ($27011; $17560 is earnings).
- Will check but I think the scholarship & grant were for tuition & fees only.
We put student 1099-Q on his 1040 & marked $4000 allocated to AOTC on parent 1040. It shows he owes taxes on $5298. For the parent 1040, we entered the 1098-T, but do we enter only the parent 1099-Q, or also enter the student 1099-Q? One way shows we owe taxes on the entire 10595 you said is taxable. The other way shows no educational deductions or AOTC credits at all. What am I doing wrong and how to I get it to allocate the expenses between the two forms? Thank you for any help!
