Client has two kids in college, each with a 529 plan. Kid 1 had $20,000 in educational expenses; kid 2 had $15,000 in educational expenses. Three 1099-Q's were received. Kid 1's was for $8,000; kid 2's was for $17,000; there was one in dad's name for $9,000.
Am I correct that Kid 2 will report $2,000 of excess distributions (with only proportionate earnings taxed)? Just want to make sure there is no way to net the additional expenses from kid 1 with the kid 2's excess distributions.