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Old 03-23-2019, 12:13 PM
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College Tuition Credit

College tuition tax credit. My son graduated in May, 2018. Did not receive 1098. College stated that all 2018 tuition was included on 2017 1098: "the reason for this is because the Tuition charges for the Spring term we?re posted in November 2017, the date the student registered for their classes. That information was included in your 1098T Form for 2017". Does this mean that I can not claim the tuition on the 2018 return in order to claim the 2018 credit?



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Old 03-24-2019, 09:14 AM
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right. In general, a Form 1098-T will reflects the 2018 Spring semester fees being paid in the Fall semester of 2017. Per IRS, you are allowed to claim the credit or deduction for the 2018 tuition paid amount shown on the 2017 Form 1098-T in the tax year of 2017 as if the 2018 spring semester began in 2017.

if you paid in 2017 for classes that start(ed) the first three months of 2018, that should be included in Box 1 of the 2017 1098-T. An institution will report payments received box 1 for qualified education expenses. However, the
amount on Form 1098-T might be different from what you paid. When figuring the credit, you need to use only the amounts you
paid or are deemed to have paid in 2017 for qualified education expenses. you may claim education credit in your 2017 taxes.



The Form 1098-T is a form provided to you and the IRS by an eligible educational institution that reports, among other things, amounts paid for qualified tuition and related expenses.however, you my not receive receive a Form 1098-T because your school is not required to provide a Form 1098-T to you.



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Old 03-24-2019, 10:25 AM
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so no 2018 credit even though the tuition and fees were paid in january 2018 for the spring 2018 semester? i was hoping to get 4 years of the tuition credit!



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Old 03-24-2019, 12:24 PM
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Quote:
Originally Posted by JohnPolizzano View Post
so no 2018 credit even though the tuition and fees were paid in january 2018 for the spring 2018 semester? i was hoping to get 4 years of the tuition credit!
assaid,basically, it doesn't matter when the the tuition was billed or what the

1098-T says. What matters is when was the tuition was actually PAID. since the

spring 2018tuition was paid in 2017, it was deductible (or counted toward the ed credit) in 2017.

If it wasn't paid until 2018, it gets reported on your 2018 tax return. That's one of the purposes of a December billing, to give the taxpayer the option of paying in 2017 or 2018.



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