We, his parents, have too high of a MAGI to get benefit from any education credits on our return (e.g., American Opportunity, or Lifetime Learning). His college tuition & fees in TY21 was ~$30K.
Would we as a family get more tax credits (dependent, college expenses) if we his parents do or don't claim him as a dependent? If we don't, he'd file his own return, of course. Which is the more prudent approach?
We received 1098-T, and had 1099Q withdrawals that were sent to us (his parents = Recipient). His total costs of education (qualifying education expenses) > 1099Q withdrawals, to be clear.
