rbynaker
Level 13
03-13-2024
06:08 PM
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@yeknod wrote:
So, If I'm understand correctly, as long as the education expenses are more than the distributions, then there is no need to report the 1099-Q on the 1040?
Sometimes it's beneficial to first allocate $4K of expenses to the AOTC, even if that means part of the 529 plan distribution is taxable but that's highly situational.