Okay.
If she is under 24 (on 12-31-24) and unmarried, there's another rule that comes into play regarding eligibility for the refundable portion of the AOC. She doesn't get any of it without earned income. Okay. She is 21. She did not have much income last year because she was doing study abroad in England. Not that she normally has a high income as a college student, but she usually earned around $8,000.
I'm gonna need you to pare down your numbers to answer you questions on the calculations
But, if she only has $1100 of income, there is no tax liability, so there is no non-refundable credit. So, she only gets the $1000 refundable portion (unless she's under 24). Her income in 2024 was only $509 with $1289 interest income.
Tuition: 4381
Chapter 33: 2460
Total Expenses with Room/Board (inc tuition): 13895 This is 11435 (with Chapter 33 removed)
1099-Q: 7133
Box2: 52
1099-T Box 1: 4381
Box 5: 2460
Thanks!
