Where do I enter amount paid for college enrollment deposit for upcoming year?

Forum|Forum|1 year ago
April 14, 2024
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Our son is a high school senior this year and we already paid the enrollment deposit for Fall 2024. Can I deduct this expense in 2023 since that's when we paid it?

TurboTax Deluxe Online

SusanY1

No, you don't deduct the deposit.

You will begin reporting his college expenses next year, using a document his school will provide called a 1098-T. Schools tend to provide these via student accounts, typically, so you may have to ask your son to retrieve it for you after year-end.

Reporting college expenses and scholarships on your tax return can be a bit daunting, especially the first year, but we have many experts and Community contributors who are well-versed in this area who will offer you guidance and support if needed when you file next year.

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