1098T - Fees paid in Jan/Feb 2016 for Spring 2016. The amount is shown in 2015 1098T. May i get the tax benefit in 2016 without 1098T, as college not providing it.

[muthu_kmb]

Hi

I attended the college during Fall 2015/Spring 2016. We received the 1098T of 2015 that reflects the amount for both Fall 2015 and Spring 2016. I paid the amount for Spring 2016 during Jan/Feb 2016.  For 2016 we didn't received any 1098t from the college, when we inquired about it , college said all amounts are reflected in previous 1098T and there is nothing to be shared by them.

Having said that since I paid the fee  for Spring 2016  in jan/feb 2016 may I choose for getting the Tax Credit?  I don't have any documents apart from Credit Statement from my bank stating that i paid the amount in Jan/Feb  is that suffice? Please advice.

 I was told i shouldn't apply for the tax credit as is already shown in previous years 1098T. But in turbo tax i could see the option. I don't want to put myself in trouble. Appreciate your inputs and suggestions here. 

[Patrice]

Certainly, you can still claim your 2016 qualified education expenses on your tax return. You don't necessarily need a Form 1098-T to claim any of the various federal tax benefits for educational expenses.  These include:

1) American Opportunity Credit

2) Lifetime Learning Credit

3) Tuition & Fees Deduction

4) Educational expense (deduction) related to your self-employment; or as an educational expense undertaken at the request of your employer for which you did not get reimbursed.

The IRS does not explicitly mandate that you as a taxpayer have a 1098-T.  There are exceptions to the rule.  Proof of your expenses in the form cancelled checks to your school, bank statements, or a statement of student account from your school's registrar office are good enough to satisfy the recordkeeping provisions of the law.

In TurboTax, you'll simply tell the program that "yes" you incurred educational expenses, but that "no" you don't have a 1098-T.  You'll then be presented with the opportunity to input the dollar amounts of your educational expenses. You may additionally find the information at the following TurboTax FAQ pages helpful:

https://turbotax.intuit.com/tax-tools/tax-tips/Tax-Deductions-and-Credits/What-are-Education-Tax-Cre...

https://turbotax.intuit.com/tax-tools/tax-tips/College/Video--What-Educational-Expenses-Are-Tax-Dedu...

https://ttlc.intuit.com/replies/5664307