We have a full time college going child and he will be filing a separate tax return since he earned some money (8000 $) in 2020. We will claiming the child as qualified dependent in our tax return/Child will be marking "someone will claim me as dependent" in his tax return. We have a 529 plan for him. We received 1099-Q (from 529 provider - recipient name is one of the parent name) and 1098-T from the college (in Student name). With this, i am assuming we can claim all 529 deductions in our tax return (parents) and we will not be able to claim any 529 deductions in child tax return. Correct? I have reviewed past posts on this topic. Its little confusing.
