Hi, Thomas
I think I am still a little confused. Just want to confirm that I did it correctly. In my tax return, I entered the 1099-Q amount which is in his name and then his college's 1098-T, and I got the full credit $2500 for American Opportunity Credit.
What I did to come up with the amount to withdraw from my son's 529 plan was to subtract $4000 out of the total qualified expense to make sure I can get the full AOC credit without incurring any tax. $4000 was paid from my own bank account instead rather than from the 529 plan. So the 1099-Q in my son's name was actually $4065 below the qualifying expenses including room and board.
Thanks!
