Thanks again!
I found that my dependent's loan for 2025 first term was credited to his university account at end of 2024. the situtaiton become complex. let me put my son's things together
2024 fall term tuition is 9068
2024 fall term scholarship is 7948, the QEE of 2024 fall term is 1120.
2024 fall term loan is 2227
2024 fall term R&B is 7443
we paid 6037 for left balance in his account in Aug 2024.
2025 spring term tuition is 8868, posted to his college account on Dec 11, 2024
2025 first term grants is 7948, credited to his accoun on Dec 15, 2024, QEE of 2025 first term is 921.
2024 fall term loan is 2227, credited to his college accoun on Dec 29, 2024
2024 fall term R&B is 7443, posted to his college accoun on Dec 11, 2024
we paid 6036 for left balance of expenses in his account on Jan 2025
I withdraw 8400 from my 529 account in 2024, and we bought a $990 laptop in 2024 for my son.
Pub 970 says "treat loan sent directly to college as paid on the date the college credit student's account. so in 2024, we paid 2227 for 2025 first term expense, which is more than QEE of 2025 first term =921. Aslo, the 2025 first term grants were also credited to my son's account in 2024, so all QEE of 2025 first term is paid in 2024, right?
if so, then, can I, and I have to, use the 1099T box1 (tuition) of 17936, and box5 (grants) of 15895 to claim AOTC in my 2024 return?
if so, my AQEE for 529 witdraw in 2024 tax return, is it equal to 7443 of 2024 R&B + 990 of laptop +(2227-921) =9739? the (2227-921) is paid in 2024, but toward expense in 2025. Or my 529 AQEE of 2024 return is the 7443 + 990 expense incured in 2024?
