Q. Despite us not qualifying for the AOC do I still enter the $4000 to generate form 8863 on my return?
A. No. form 8863 is only submitted if you ARE claiming a tuition credit. Entering unused info, in Turbotax, puts nothing on the actual IRS forms. You're wasting your time and just opening up opportunities for mistakes.
Q. Do we bother mentioning the kids as students at all?
A. Yes, in TT, but only in the personal info section to qualify them as dependents. Enter nothing in the education section.
Q. You also suggest not entering anything about education on his return. Does that mean not even mention him as a student?
A. As on your return, you do indicate, in the personal info section that he is a dependent. List his "occupation" as student-dependent. Don't enter anything in the education section.
Q. Won't we have to enter something (on someones return) regarding the forms sent to the IRS like the 1098T and the 1099Q.
A. No. The 1098-T and 1099-Q are only informational documents. The numbers on them are not required to be entered onto your tax return. Entering them in TT, in you situation, puts nothing in any IRS forms for your returns.
Q. Would his return be any different if I entered the expenses and associated college info on his return?
A. No. Again, nothing goes on the tax forms as a result of entering educational info that has not results (no credit, no taxable scholarship and no taxable part of the 1099-Q)
