Hello,
I'm parent of "half-time" student who's living at home; she's no longer a dependent. I'm assisting with her tax return.
She has taxable income from part-time job (+/- $17K).
In Fall of 2023 she won an award from the college for a fundraising drive ($1500); she also had a paid internship during the Fall semester (remainder of Box 5).
Box 1: $420.25
Box 5: $4987.50
No restrictions on 1098-T.
Other qualified expenses = $1190.
Question 1: How can I learn if she (or I) am eligible for AOC?
Question 2: Since scholarship exceeds tuition + QE, can some $ from Box 5 be deferred for tuition in 2024?
Thanks!
