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529 Disbursments Options and Tax Credits

900 Views | 4 Replies | Last: 15 days ago by gigemhilo
Gator92
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AG
Looking for 529 disbursement advice and how 529's affect the American Opportunity Tax Credit.

I'm only given 3 disbursement options and they must be executed immediately upon selling.

Account Owner

Account Beneficiary

Direct to the school

Max for the AOTC is $2,500/yr eligible for $90K single and $180K/ry married filing jointly.

First $2K qualified expenses and 25% of the next $2K for a max of $2,500

I'm lol poor, so I qualify!

I would like to sell the shares now. I have less than $10K in the account.

My son is a fish at TAMU. Fees for this semester are already paid.

What's my best disbursement option?


Aggie95
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Why not use it next year?
gigemhilo
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just reimburse yourself for tuition already paid.
BMF_AG95
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Someone told me for tax reasons have it sent to school first, then kid and then to you.
gigemhilo
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It really doesn't matter as long as you documented what it was used for.
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