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lucarier6590
New Member

Lifetime LC. in school was from Jan- May 2017 received 1080 T for 2017("billed" in Nov 2016), but paid Jan 2017. Is there a way to get credit? didnt file 2016 no income

 
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KrisD
Intuit Alumni

Lifetime LC. in school was from Jan- May 2017 received 1080 T for 2017("billed" in Nov 2016), but paid Jan 2017. Is there a way to get credit? didnt file 2016 no income

Yes, if it was paid in 2017 you can claim the expenses. If you paid more than what is reported on the 1098-T, use the "What if this is not what I paid?" link under box 2 on the 1098-T screen and enter what was paid. 

According to the IRS:

“If your school sent you a 1098-T in 2016 and it showed that you were billed in 2016 for classes that started in 2017, and you paid for those classes in 2017, you may use that amount to apply for an education credit in 2017. You may or may not receive a 1098-T in 2017 from the school. You could not have used that amount (the fee for the 2017 classes) towards a credit last year. 

CLICK HERE for IRS Pub 970 Education Credits


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KrisD
Intuit Alumni

Lifetime LC. in school was from Jan- May 2017 received 1080 T for 2017("billed" in Nov 2016), but paid Jan 2017. Is there a way to get credit? didnt file 2016 no income

Yes, if it was paid in 2017 you can claim the expenses. If you paid more than what is reported on the 1098-T, use the "What if this is not what I paid?" link under box 2 on the 1098-T screen and enter what was paid. 

According to the IRS:

“If your school sent you a 1098-T in 2016 and it showed that you were billed in 2016 for classes that started in 2017, and you paid for those classes in 2017, you may use that amount to apply for an education credit in 2017. You may or may not receive a 1098-T in 2017 from the school. You could not have used that amount (the fee for the 2017 classes) towards a credit last year. 

CLICK HERE for IRS Pub 970 Education Credits


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