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My daughter is done with school but makes monthly payments to the school. She does not receive a 1098T. How does she file her payments?
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You can still claim an education credit if your school that closed did not provide you a Form 1098-T. Your daughter has to be enrolled to eligible educational institution to claim the Lifetime Learning credit. The maximum amount of covered expenses is $10,000 no matter how many students you have. This translates into a $2,000 maximum credit ($10,000 X 20%).
Be sure to keep a copy of the students school account statement with your tax file.
What Is the Lifetime Learning Tax Credit?
She does not file them, at all. Payments made in arrears are not eligible for a tuition credit or deduction. Only payments made in the same year as the course work are eligible*.
* One exception (that doesn't apply in your daughter's case): payments made in the current year for the 1st term of the following year may be counted.
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