Every tax program I've used assigns $4000 to the AOC credit. As a result, it looks like I've taken out too much money from my 529 funds and have to pay a penalty on the money as well as taxes. Is there a way to change the AOC credit information and just claim $2000 for the credit? That way, it won't look like I took out too many 529 funds. I know I'll get a lower AOC credit, but I'm fine with that. I can't seem to figure out a way to do this and may have to do it by hand, but I'm wondering if I've missed something. Thanks for your help!
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Go through the education section again. When you get to the screen that says “Here’s your Education Summary”. Click edit next to “Education Information”. When you get to the screen titled “Amount Used to Calculate Education Deduction or Credit”, verify the amount you want to use or change it.
Go through the education section again. When you get to the screen that says “Here’s your Education Summary”. Click edit next to “Education Information”. When you get to the screen titled “Amount Used to Calculate Education Deduction or Credit”, verify the amount you want to use or change it.
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