Q. Does that mean that, for 2023, I can split the reporting of the $8,500 scholarship - on his return, report $5,600 so that his total income doesn't go above t...
Q. I graduated college in August 2023, am I still able to claim an education credit?
A. Simple answer: yes.
Be aware that there is a 4 time limit for claiming ...
He would have to be enrolled as a degree candidate* to be eligible for the AOC. A student (or his parents) are limited to claiming the AOC four times in his und...
Qualified Tuition Plans (QTP 529 Plans) Distributions
General Discussion
It’s complicated.
For 529 plans, there is an “owner” (usually the parent), and a “bene...
Q.Can I withdraw funds from his 529 plan to pay his spring tuition bill this December without paying taxes or a penalty?
A. Yes. In fact, the 529 plan withdrawa...