GOAL: Protect the 529 earnings we parents spent on sons' college from taxes, AND ALSO maximize federal deductions across the family’s filings (mine and my two student - sons').
Do I say to Turbotax questions: yes, I have education expenses
- For the purposes of protecting 1099Q earnings I saved?
- For the purposes of maximizing my own federal filing deductions?
OR . . . since I gifted this money to my sons, should each of them to say yes, I have education expenses
- them to itemize their education expenses?
- But I don't want to lose tax protection from 1099Q earnings.
