Q. I read that I don't have to report my 1099Q because I used all of the distribution for qualified expense, my tuition and books. Correct?
A. Yes. Room and board, including off campus (with limits) are also qualified expenses,
Q. Can I still claim the lifetime learning credit because I still have remaining total qualified expense after help from my 529?
A. Yes. Your numbers are correct. As you can see, you coulda even withdrawn more 529, tax free.
Q. Additionally, this was the same situation for last year, but I didn't claim the lifetime learning credit because I was worried about double dipping. Can I use TurboTax to do an amended tax return for 2020?
A. Yes.
