My daughter already has 4 years of Amercian Credit. Last year she was only in college January - May for bachelor's degree. She is filing single and claiming herself (including her tuition expenses and 529 plan payment). Tuition was $6,800 and 529 Plan payment was $5,097.
When we adjust the dollar amount for taxable vs. nontaxable, she doesn't get as much of a refund as leaving the full expense. I still don't understand why both amounts are entered and it doesn't pickup that the 529 Plan payment all sent to tuition expenses and it shouldn't be taxed. I'm uneasy about not reported the 1099-Q, but I guess I'll do as you all say. Thank you.
