KrisD15
Expert Alumni

Education

You are "allowed" to do that, the distribution may also be applied to Room and Board which would make it non-taxable and also free-up expenses for the credit.

 

Enter the 1099-Q and 1098-T into the TurboTax program and select that the program "Maximize my Credit"

 

If you are a dependent student, the taxpayer that claims you gets the credit. 

 

IRS Pub 970 

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