No, you paid for college. Those 529 payments were taxed at the federal level when earned and contributed. Only the earnings were not taxed originally. What are examples of education expenses? What are qualified education expenses for the American Opportunity and Lifetime Learning credits? What expenses qualify for the American Opportunity Tax Credit and which ones do not? Who is eligible to take the American Opportunity Tax Credit?

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alankoslow99

Question

Do I need to delete my AOTC since it doesn't reflect the payment of qualifying education expenses from a 529 college bound fund account?

Forum|Forum|6 years ago
March 16, 2020
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AmyC

Employee

No, you paid for college. Those 529 payments were taxed at the federal level when earned and contributed. Only the earnings were not taxed originally.

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