DS is 23 was only a part time student each semester of 2020 and he made 40k. Sorry I forgot to include those details from the previous post. So we know he has to file as independent.
So he definitely has tax liability which if I understand correctly means he could use LLC. But I'm still not sure if expenses that were paid from his 529 can be included in the amount used to calculate the LLC or if it's only the expenses incurred over and above the amount we withdrew from his 529.
I didn't know he could claim "board" when living at home even if he pays nothing for it. It sounds like no matter how the 529 expenses are handled, we should still figure out the value of board because that would be eligible for LLC no matter what. Correct? Is there a formula for determining the value of board?
