Section 529

[Mark Goldberg]

My client used a 529 plan to pay 100% of the tuition for her son. $21,000 was basis and $3600 was earnings. Can she claim the Hope credit based on the $25,000 of basis. Some sources say yes and some say no?

[BP.]

Yes. Use Pub 970, chapter 8, Mark. Has good info on how to coordinate credits with distribution.

[Mark Goldberg]

thanks BP

I checked out the Pub and you were right on, thanks