Education tax benefits follow the student's dependency exemption, unless no one claims the student's personal exemption, in which case they go to the student. You can't get a benefit from tax-free 529 distributions, and books rarely count. See IRS Publication 970.
Read the full replyMy 19 year old son is a freshman. I got a 1098-T for his tuition. His tuition is being paid out of a 529 in his name. (yeah, that is a crappy way to do it, but there were good reasons for it at the time.) He will not have significant income in
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Education tax benefits follow the student's dependency exemption, unless no one claims the student's personal exemption, in which case they go to the student. You can't get a benefit from tax-free 529 distributions, and books rarely count. See IRS Publication 970.
-- Phil Marti Clarksburg, MD
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