When using Turbo Tax Deluxe in situation similar to the above example, how is the Form 1099Q and 1098T information entered in the program, and on which return?
I am a grandparent account owner and the beneficiary grandson will be considered a dependent of my daughter.
The 1099Q was sent to me and the distribution was listed as to other than the beneficiary. The 1098T was sent to my grandson. As a family group, we would like to take advantage of the American Opportunity Credit or LLC, if eligible. The 529 withdrawals do not exceed the qualifying education expenses, if we choose to forgo the AOC or LLC.
How would this activity be entered in the Turbo Tax Deluxe Model?
