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dhout12
New Member

Do I use my 2016 or 2017 1098-T on my 2017 tax return

 
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8 Replies
jtax
Level 10

Do I use my 2016 or 2017 1098-T on my 2017 tax return

You use the 2017 1098-T on your 2017 return. You should have just recently received it. 

It should list tuition, etc. paid in 2017.

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dhout12
New Member

Do I use my 2016 or 2017 1098-T on my 2017 tax return

I have not received it as of yet. When does it usually come ?
jtax
Level 10

Do I use my 2016 or 2017 1098-T on my 2017 tax return

The school must mail the 1098-T to you by January 31.
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dhout12
New Member

Do I use my 2016 or 2017 1098-T on my 2017 tax return

Ok, I only attended my spring semester for the 2017 year (Jan -May), do I still get the 1098-t form or would I have to use my 2016 1098-t form for it?
jtax
Level 10

Do I use my 2016 or 2017 1098-T on my 2017 tax return

Your 2016 1098-T only includes amounts for 2016. You cannot use it for your 2017 taxes.

You should get a 2017 1098-T for tuition paid during 2017. It doesn't matter whether it was early or late in 2017. Any tuition paid or billed, scholarships received, at any point during the year will be reported. etc.  That is what you should enter when doing your 2017 taxes. You should be sure the college has your current address.
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jtax
Level 10

Do I use my 2016 or 2017 1098-T on my 2017 tax return

Just an important clarification. What you can deduct/use for a credit is the amount you *paid* during your tax year. If you're doing your 2017 taxes and the 1098-T for 2017 box 1 has an amount, then you can use that amount. If box 2 (billed not necessarily paid) has an amount, then you can only use that part of the amount in box 2 that you paid during 2017. This means it is possible that you may have been billed in 2016 for 2017 and paid in 2017 but some schools might not report that in 2017 (because they report box 2 amount billed, not paid). Then you probably could use the amount paid even though it doesn't appear on the 2017 1098-T. In that case I  would pay very careful attention to the TT interviews questions and be precise and/or do more research. I believe this will not be an issue in 2018 because I think schools will finally be required to report amount paid not amount billed.
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Do I use my 2016 or 2017 1098-T on my 2017 tax return

JUST PAID FOR 2017.. BUT ALL THE QUESTIONS ARE FOR 2016 WHAT DID i DO WRONG

jtax
Level 10

Do I use my 2016 or 2017 1098-T on my 2017 tax return

please tell us more. See my updated comment. and the info on box 1 and box 2 from

<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/3690584-what-is-the-difference-between-box-1-and-2-on-the-1098t-ca...>

and

<a rel="nofollow" target="_blank" href="https://turbotax.intuit.com/tax-tips/college-and-education/guide-to-tax-form-1098-t-tuition-statemen...>
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