Q. If we do the scenario you described can we still ignore the 1099Q?
A. Yes, as longer as there was no double dipping.
If the 529 plan was fully covered by ro...
Q. If the mortgage for an unmarried couple is paid out of a joint bank account, doesn't the split have to be in proportion to their payments into that account? ...
You are correct, you may claim the amount over $5250, for the AOTC.
You can only claim the AOTC in the year the tuition was actually paid. Although it's not cl...
As you appear to know, there are two types of dependents, "Qualifying Children"(QC) and Other ("Qualifying Relative" in IRS parlance even though they don't hav...
No, but those expenses could have been claimed on the 2024 tax return. That assumes that the 1098-T and the amount for the spring term was actually paid in 2024...
