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While it doesn't make much sense, it is "right" in the context of how most colleges report tuition bills and financial aid.
You are allowed to claim, on your 2016 tax return, qualified tuition and fees actually paid during 2016 for any academic period (semester, term, quarter, summer session, etc.) beginning during 2016. You are also allowed to claim qualified tuition and fees actually paid during 2016 for an academic period beginning during the first three months of 2017. This allows you to benefit from the ways schools actually operate; they typically expect payment for the Spring semester sometime in December.
Here's the catch. The schools do not typically post grants and scholarships until the semester begins. So, when 1098-Ts are generated, they look like the one you have. That is fine. Use it; you will get the tax credit to which you are entitled. Be aware, however, that in the year you finish your degree program, you are most likely going to receive a 1098-T with no tuition posted in Boxes 1 or 2 (because it was paid the previous year) but scholarship or grant funds posted to Box 5. In that year, if you have no other tuition or fees, you will have taxable income from your scholarships and grants.
While it doesn't make much sense, it is "right" in the context of how most colleges report tuition bills and financial aid.
You are allowed to claim, on your 2016 tax return, qualified tuition and fees actually paid during 2016 for any academic period (semester, term, quarter, summer session, etc.) beginning during 2016. You are also allowed to claim qualified tuition and fees actually paid during 2016 for an academic period beginning during the first three months of 2017. This allows you to benefit from the ways schools actually operate; they typically expect payment for the Spring semester sometime in December.
Here's the catch. The schools do not typically post grants and scholarships until the semester begins. So, when 1098-Ts are generated, they look like the one you have. That is fine. Use it; you will get the tax credit to which you are entitled. Be aware, however, that in the year you finish your degree program, you are most likely going to receive a 1098-T with no tuition posted in Boxes 1 or 2 (because it was paid the previous year) but scholarship or grant funds posted to Box 5. In that year, if you have no other tuition or fees, you will have taxable income from your scholarships and grants.
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