Tuition for Fall 2020 paid in January 2021

Forum|Forum|4 years ago
April 13, 2022
1 reply
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I'm pretty sure I know the answer to this, but I'm hoping I'm wrong. I paid my Fall 2020 (last semester) tuition in January 2021. Therefore, I didn't receive a 2021 1098-T. I would greatly appreciate some guidance as to reporting the payment made in 2021. Thanks in advance!

DanaB27

You will have to claim the expenses in 2021.

To claim education expenses the expenses must be paid in the tax year and be for classes of that year and/or the first three months of the following year.

Login to your TurboTax Account
Click on "Search" on the top right and type “1098T”
Click on “Jump to 1098T”
Click the link "This is not what I paid to this school" under box 1 on the 1098-T screen and enter the proper amount in the box on the right that will appear.

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aot1Author

Thanks much for your insight, DanaB27. My confusion stems from the fact that the tuition paid was not for classes of that year - 2021 - and/or the first three months of the following year. Rather, it was for the classes of Fall 2020.

AmyC

Employee

Paying backwards is not something the IRS acknowledges. I didn't know any college even allowed payment after the semester. Here is a wealth of information by the IRS at this education-credits-questions-and-answers link. Which unfortunately states for the tax year or the following 3 months.

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