<p>Sorry for any confusion. We had our accounts with Dean Witter, now Smith Barney/Morgan Stanley (from the mergers) and would just like to close them out & put the funds into our joint savings and continue to pay off the tuition expenses via the payment plan through our credit card.</p>
<p>I guess we’ll have to be careful to document the school expenses vs. the distribution so we don’t have hassles about any potential income tax claims by IRS & attach all to our return via the accountant. The tuition alone is MUCH more than the accounts have ever held. We have losses in the Coverdell, never got any of the hoped for gains. 
Oh well, it is a source of savings we can apply. Have seen info about possibly itemizing the losses, if they are high enough.</p>
<p>Yes, I did look at that thread about the 1098T. Don’t really understand why this contractor that the U hired can’t figure it out correctly as to the appropriate # to put in box 2–they had most of the correct info set out below the form. I guess it baffles many.</p>