Update: the free tax software asks the following:
Is anyone claiming an education credit using the expenses paid with your 529 program distributions?
So perhaps the answer is: she says 'no'?
Because I think we only need $10,000 in QEE to claim the LLC (?)
So if I subtract 10k from the tuition amount of 66632, I get 56,632.
That means I can still use that 56,632 PLUS the supplies/room and board (1415+17519) = 74,292 as eligible expenses against the 529 distribution (of 66,632) that ARE NOT part of the 10k used for the LLC.
Is there any chance this is the correct way to think about this?
And what did I do wrong in TT - was I not supposed to enter the 1099-Q? Does this need to be fixed since I already filed? Thanks again.
