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MNski
Level 3
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  • Re: AOTC and 529 w/d basis portion

    Thanks, Amy! (Love "get to" pay tax...) 😂Yes, his unrelated unqualified 529 withdrawal has no QHEE to offset it. So he is paying tax (minimal since he has no o...
    MNski
    1
    Updated Apr 01, 2026

  • Re: AOTC and 529 w/d basis portion

    re: "same" 4k being applied to AOTC and being 529 w/d penalty-free: on his return, he is paying the tax and 10% penalty on ALL of his unrelated 529 w/d. (this 4...
    MNski
    3
    Updated Apr 01, 2026

  • Re: AOTC and 529 w/d basis portion

    OK, I found one field that is editable so I think I found my answer. If you could please confirm, that would be fab.Student Info Wks, Part VI, Line 18, Column 1...
    MNski
    6
    Updated Apr 01, 2026

  • Re: AOTC and 529 w/d basis portion

    Thank you very much! I do have another question (below, after further explanation).Clarification: yes this is the first year he is eligible for the AOTC because...
    MNski
    8
    Updated Apr 01, 2026

  • Re: AOTC and 529 w/d basis portion

    just to clairfy: the last paragraph should read 6K basis portion of the 529 w/d, not 5K basis portion. (5K was the 1098-T tuition).
    MNski
    Updated Apr 01, 2026
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