Coordination with American Opportunity and Lifetime Learning credits and qualified tuition programs
For purposes of subparagraph (A)—
(i) Credit coordination
(i)Credit coordination#
The total amount of qualified education expenses with respect to an individual for the taxable year shall be reduced—
(I) as provided in section 25A(g)(2), and
(II) by the amount of such expenses which were taken into account in determining the credit allowed to the taxpayer or any other person under section 25A.
(i)(I)#
as provided in section 25A(g)(2), and
(i)(II)#
by the amount of such expenses which were taken into account in determining the credit allowed to the taxpayer or any other person under section 25A.
(ii)Coordination with qualified tuition programs#
If, with respect to an individual for any taxable year—
(I) the aggregate distributions during such year to which subparagraph (A) and section 529(c)(3)(B) apply, exceed
(II) the total amount of qualified education expenses (after the application of clause (i)) for such year,
(ii)(I)#
the aggregate distributions during such year to which subparagraph (A) and section 529(c)(3)(B) apply, exceed
(ii)(II)#
the total amount of qualified education expenses (after the application of clause (i)) for such year,
the taxpayer shall allocate such expenses among such distributions for purposes of determining the amount of the exclusion under subparagraph (A) and section 529(c)(3)(B).