Trying to figure out why Turbo Tax is saying I do not qualify for any AOTC. We make under the amount needed to quality. The numbers:
Total college expenses: 18,749
1098T payments: 8,486
529 distributions: 12,900
Out of pocket expenses: 5,849
Is it simply because my 1099Q is higher than the 1098T number? Turbo Tax does not seem to take into account the $5,849 I paid out of my pocket and entered in Turbo Tax. How would Turbo Tax know what the 529 distributions covered (AOTC qualified expenses versus 529 qualified expenses).
I would appreciate any help. I was on the phone with Turbo Tax, but we got disconnected. The agent did not seem to have an answer for this.
