I can sorta follow the math, but it seems like that person's situation is different than mine because parental income is too high for me to claim any of the Federal education benefits and there seems to be an interplay of Federal tax credits/529 withdrawals with this sample person you reference?
In particular, after having read your linked example and other examples on the TurboTax forums, I'm not understanding the logic that allocates expenses on either the child's and/or the parent's tax return?
Also I'm wondering if Kiddie Tax will come into play? I think I read somewhere that scholarship might be considered unearned income?
If you could walk me through my situation, that would be much appreciated! I will write it down and then should be good for the next 6 years of college for my two kids!
Thanks very much for your time.
@Hal_Al
