1. Yes as long as any restricted scholarships are accounted for in the remaining tuition. You may not have any restrictions. Sometimes a scholarship will say it must be used for tuition.
2. Then 1098-T is entered for each child:
- on parent $4,000 box 1, everything else blank
- on student - remove the $4,000 accounted for from box 1 and enter the rest of the information on the 1098-T.
3. Absolutely amend. The IRS has a great brochure that explains how scholarships and tax credits interact. You can only claim the AOTC for 4 years.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
