Do I need to amend my taxes? I keyed the wrong amt for paid QTRE on my 2016 return. I included Fall 2016 and Spring 2017.

[Clg123]

If I don’t amend, should I just include Fall 2017 paid QTRE for 2017 taxes?

[Anita01]

did you actually pay for spring 2017 last year in 2016?

[Clg123]

No, I only paid for Fall 2016 in 2016.  Spring was paid in 2017.

[Clg123]

So, if I paid atleast $4000 in qualified expenses for Fall 2016 and atleast $4000 for Fall 2017, then I don’t need to amend?

[Anita01]

No, you might still get a letter from the IRS asking you to substantiate the expenses, but your credit would not be reduced in 2016 and you could still have the amount you need for 2017.

[Clg123]

Ok, I think I know what to do now.  Thanks so much for answering my questions!

[Anita01]

Well,it would , in theory, be best to amend.  If the IRS comes back to you and asks for evidence of your payment of the expenses in 2016, which they do fairly often, you would lose the ed credit for 2016.  Then, if you had not taken it correctly in 2017, you'd be out the amount for both years.  In truth, you only need $4,000 in expenses paid in any one year to maximize your credits,so if one semester from 2016 gave you that much, and fall of 2017 gives you that much for this year, you wouldn't need to amend.