@Hal_Al Thanks so much for your help!
What is in box 2 of your 1099-Qs?
For the Coverdell one that is used for my daughter box 1 is 3,000 and box 2 and 3 are all blank, I guess it is becuase it does not have records since it was transferred from other brokerage. There is a fair market value of about 7000 at the end of last year.
this box is blank/not checked: recipient is not beneficery.
For the 529 one that is used for my return, box 1 is 13830, box 2 is 1932 and box 3 is 11898.
this box is checked: recipient is not beneficery.
Not sure how to allocate $4000 of tuition to the AOTC first, I will check TT to see where I can do that.
For 2024 and 2025 (graduation year) planning, I see LLC is 20% of tuition up tp 10,000 and that is only possible for 2024 since it is a full year and tuition is more than 10k. In 2025 it is less than 10k so use AOTC might be better.
Thanks so much for your help!
