Can I claim 2021 LLC if tuition was billed in 2020

Forum|Forum|4 years ago
April 13, 2022
2 replies
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I paid tuition for spring 2021 semester when it was billed in Dec 2020. As such, 2021 1098T reports no tuition in box 1. Can I still claim it in 2021 for LLC? I already claimed 4 years for AOC.

JillS56

If your 1098-T has no tuition in Box 1 then you cannot claim a credit. You must have paid tuition in order to claim the credit. Are you sure that the school did not include what you paid in December 2020 with your 2020 1098-T?

PDooleyAuthor

I'm sure they did. It just wasn't actually for tuition in 2020 even though it was billed at the end of 2020. I wish I had known. I would have tried to wait until 2021 to make the payment.

Hal_Al

Employee

Q. I paid tuition for spring 2021 semester when it was billed in Dec 2020. As such, 2021 1098T reports no tuition in box 1. Can I still claim it in 2021 for LLC?

A. No. The tuition credits are claimed in the year paid*. So, you coulda counted that payment for calculating your 2020 credit, but not your 2021 LLC.

*Usually the payment must match the year of the classes. But there's one exception: you may count money paid, the year before, for classes starting in the first quarter of the following year.