Hal_Al
Thanks for responding. I guess I am much more confused than I thought. Could you please clarify the following?
Q1: I think I didn't make myself clear. I don't mean that R&B are qualified expenses. I mean that they are non-qualified. So, I thought we could use the R&B amount that was charged (or paid -not sure which) in 2020 in order to determine how much scholarship money we can have our child claim as taxable income, and then deduct that from the scholarship money on the parent tax return so there are more qualified expenses for us to pay. Is that the correct way to look at it?
Q2: In Dec 2019, we paid what was left after scholarships were considered for the Spring 2020 semester., but the scholarships were applied in Jan 2020. In Dec 2020, we paid what was left after the anticipated scholarships for Spring 2021, but the scholarships were applied in Jan 2021. I am now assuming it is like cash basis accounting where we only count what was actually done in the same year. Do we you use qualified expenses paid IN 2020 or billed FOR 2020 to determine eligible expenses for an AOC?
Q3: Can we count an expense for a used computer in 2020 if our child had virtual classes, but does not have a receipt?
Q4: My child received Covid Relief from the college. Does this get deducted from our qualified expenses?
Q5: Normally, my child would be without a vehicle at college and I would go get them during breaks. But, since we could not let them come home due to the virus, we had to let them take our vehicle so they could move in and out of housing with their belongings, go someplace over breaks and summer and live elsewhere. Would any of the vehicle expenses, parking tags, summer food, etc, count as qualified expenses?
I'm exhausted staying up all night trying to figure this stuff out. Thanks for your patience.
