Question

Tuition charged in 2018, Paid in 2019

Forum|Forum|6 years ago
February 19, 2020
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I was charged my tuition (for my last term in school) in December of 2018. The term began the week prior to Christmas (2018), but my loans disbursed on January 2nd, 2019 (meaning I paid my tuition in 2019). That term ended at the beginning on March 2019. Originally, I wasn't given a 1098-T at all, but they recently added one with all the boxes blank (except my name, address, ect.). I called and asked why the amount I paid on January 2nd wasn't included in box 1, and they said it was because I was charged my tuition in 2018 but paid in 2019. He said because of this, the amount I paid for this term wouldn't be included in either 2018 or 2019! Is this correct? I don't understand how my expenses for this term couldn't be included on a 1098-T for either year? Originally when I had called and said that I wasn't issued one, the woman agreed with me, and said I should have been given one. I think I should be able to claim the LLC for 2019, since that s when I paid it.

Hal_Al

Employee

The 1098-T is only any informational document. The numbers on it are not required to be entered onto your tax return. If you claim the tuition credit, you do need to report that you got one. However receipt of a 1098-T frequently means you are either eligible for a tuition credit or deduction or possibly have taxable scholarship income. You claim the tuition credit, or report scholarship income, based on your own financial records.

Unfortunately that sometimes means working around the 1098-T in the TurboTax interview. Underneath box 1, In the 1098-T screen, click on the link "What if this is not what I paid the school" under box 1. You will then be able to enter your actual amounts. This is the amount that TT will used to calculate your credit or deduction.