Also I received partial refund of my tuition - how should I go about the amount paid to my graduate school and the aid I received?
If you attend the college or university full-time for 5 out of 12 months in a given year, you are considered a full-time student. So if you attended January through May 2016, and took the year from June, 2016 through June 2017, and plan on resuming in July-August 2017, you would be considered a full-time student for both 2016 and 2017.
If you received a scholarship and paid tuition in 2016, you should have received a 1098-T. You would include the 1098-T on your 2016 tax return and let Turbotax figure out any taxable income and/or education credit that you would be receiving for the year.
If you attend the college or university full-time for 5 out of 12 months in a given year, you are considered a full-time student. So if you attended January through May 2016, and took the year from June, 2016 through June 2017, and plan on resuming in July-August 2017, you would be considered a full-time student for both 2016 and 2017.
If you received a scholarship and paid tuition in 2016, you should have received a 1098-T. You would include the 1098-T on your 2016 tax return and let Turbotax figure out any taxable income and/or education credit that you would be receiving for the year.
Hi Sean - thanks very much for the answer. For some reason I never received any 1098-T form, what would you suggest doing in this case?
Judy, I would contact the Bursar's office at your college or university and request one so that you can accurately complete your education credit.
Sean, I saw on Turbotax that I could be considered an "exception" because I did not receive any 1098-T form. Also, what happened was that I took my year off around 1 month into my program and I received partial refund for my tuition - should I contact my graduate school for 1098-T information as well?