I am having trouble with entering turbotax and am not sure I am entitled to the Lifetime Learning Credit. Here is the scenario:
My parents set up a 529 plan for me years ago and I started part-time graduate studies in Fall 2021, but also currently taking Spring 2022 courses (which were paid by the plan in Dec. 2021). I had the money go directly to the college from the plan. When the plan issued the 1099Q (to me), they issued it for $8,400, which was the total distribution for the Fall and Spring Semesters ($4,200 x 2); however, the college issued the 1098T (to me) for $4,200 (for only the Fall semester).
It is my understanding that I would not pay any taxes on this distribution. However, how do it enter it in turbotax so that I am not having to include income?
Also, would I be entitled to any Lifetime Learning Credit?
Thanks.
