If I funded my dependent's 529 plan and used those funds to pay eligible education expenses, can I deduct the expenses on my federal return?

dhineser — Thu, 06 Jun 2019 08:44:43 GMT

You cannot claim any of the college tax credits, includin...

Bsch4477 — Thu, 06 Jun 2019 08:44:45 GMT

You cannot claim any of the college tax credits, including the AOTC, based on expenses that were used to calculate the tax-free portion of a distribution from a 529 college savings plan. The AOTC may be claimed in the same year that a tax-free distribution is made as long as the same expenses are not used to calculate the tax-free distribution AND the American Opportunity Tax Credit.

For example, if you take $12,000 out of a 529 college savings plan to pay for tuition you cannot use that $12,000 of tuition expenses to claim the American Opportunity Tax Credit also.

topic If I funded my dependent's 529 plan and used those funds to pay eligible education expenses, can I deduct the expenses on my federal return? in Education

If I funded my dependent's 529 plan and used those funds to pay eligible education expenses, can I deduct the expenses on my federal return?

You cannot claim any of the college tax credits, includin...