AmyC
Expert Alumni

Education

If the 1099-Q came to you, there is no way to know how you spent the money and you can allocate the income as desired. You only need $4,000 of tuition and related expenses to claim the full AOTC. In addition, the 529 money can go towards room and board, even for students living at home. This should free up money for both you and your oldest to claim credit on returns. 

 

Please see my 529 example with IRS information here and another here to maximize refunds.

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