Qualified withdrawal from 529 & AOC

[NotSoFair]

This is the first time we withdrew from 529 for S's college. Amount was paid directly to school. We haven't received 1099Q yet, but I know for a fact that there is no 'earnings' portion. Considering that and the below, how much can I claim as qualified expenses for American Opportunity Credit?

Amounts billed for qualified tuition and related expenses: $19,000 (from 1098-T)
Other qualified expenses (books & supplies): $400
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Total qualified expenses: $19,400
Scholarships or grants: $17,000 (from 1098-T)
Adjusted qualified expenses (after scholarships/grants): $2,400
Amount paid directly to school from 529: $3000 (for balance of tuition, room & board)

I am thinking I can claim $2,400 as qualified expenses although part of that was paid using 529, because there was no earnings in 529. Am I correct in making that assumption?

Thanks a lot.

[taxref]

You are correct. In the case you describe (ie: no earnings in the 529 plan), the qualified expenses in excess of scholarships and grants can be used for purposes of the education credit.

[NotSoFair]

Thank you very much.

We received the 1099-Q today and as expected 'earnings' is 0.00. But, I think there is a problem that I had overlooked. S only had ITIN when the account was opened and I somehow forgot to inform custodians when he later received SSN. So, the 1099-Q has his ITIN instead of SSN. I don't know how serious this issue is. Should I get this fixed before we file the tax returns?

Thanks.

[taxref]

You do not have to wait to file. 1099-Q information is only reported on a tax return if part is taxable.

[NotSoFair]

That's a relief. Thanks a lot.