Q. It sounds like there is not a requirement to report any of these forms on my return, is that correct?
A. Yes, if the entire distribution was covered by qualified expenses. We need to know the room and board and book and computer expenses to make that determination.
Since the scholarship is restricted to tuition, only $9972 (15,014 - 5042) of the tuition is available for the 1099-Qs or the Tuition credit.
"I'm trying to determine if I'm eligible to receive a credit.
Basically, you are eligible for the credit if your AGI is less than $90K ($180K jointly). The American Opportunity Credit (AOC) is worth $2500 and only takes $4000 of tuition to claim. That might result in your student paying about $300 on the 529 distribution.
