TT is asking me to allocate $6K in taxable ESA distribution income between NC and MA.
I took total Distributions of $19K against $4K in AQEE expenses for 2023.
I lived in MA for the first 7 months and NC for the remaining 5 months of the year.
- $13K distributions were taken against $4K AQEE while living in MA and still attending college.
- $6K distributions were taken against $0 AQEE while living in NC (I moved to NC after graduation).
The taxable income on the federal return = $6K which TT wants me to allocate between MA and NC. To make matters more complicated there were two separate Coverdell accounts making these distributions.
How do I allocate the two distributions when TT only calculates it based on the entire year?
