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Choosing a larger education credit
Hello. I'm using a 2023 Turbotax Premier desktop. I got my first son into a university and now I'm confused as to what to put in this page called 'Choosing a larger education credit.' I paid $4000 out-of-pocket for college tuition and the remaining with distributions from the 529 plan. Does this mean I can put $4000 on the 'Choosing a larger education credit' page? Thank you for your insights!
fall 2023 | spring 2024 | row sum | |
Room & boards | $7 058.88 | $7 358.88 | $14 417.76 |
tuition | $5 693.00 | $5 883.00 | $11 576.00 |
Total | $12 751.88 | $13 241.88 | $25 993.76 |
paid out-of-pocket | $4 000.00 | $4 000.00 | $8 000.00 |
paid w/ 529plan | $8 751.88 | $9 241.88 | $17 993.76 |
1098-T Box 1 | 11,531.62 | ||
1098-T Box 5 | $500.00 | ||
1099-Q Box 1 | 22,539 | ||
1099-Q Box 2 | $1 617.00 |
* 1098-T Box 1 includes Fall 2023 and Spring 2024
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March 10, 2024
4:21 PM