Hello! I've seen several questions/threads on this topic and each one happens to be different situation. Therefore I am posting a new question here.
Parents - married filing jointly, AGI > $180K (not eligible for AOTC)
2 dependent children, both in undergraduate college full-time students
Both children have Coverdell IRA from which distrubtion was taken in 2022
Both children received 1099-Q
Both chidren also received 1098-T
Both 1098-T amount of Box-1 minus Box-5 is greater than distrubution reported on 1099-Q
Both children had income in 2022 and it is less than standard deduction, will be filing tax return.
The question - is it okay to not report 1099-Q on the children's return because the distribution from Coverdell IRA was fully used to pay tuition + housing (after adjusting for scholarships)
