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Jquez
Level 3

Paid tuition in 2016 for classes that begin for an associate's degree program beginning in 2017. TurboTax asks: Did you attend another school in 2016? What do i do?

I paid tuition in 2016 for an associates degree program that begins in 2017. Do I put the information from my 1098-T on my taxes for this year (tax year 2016)? I read that I could if the classes begin within the first three months of 2017. Just want confirmation. Thanks!

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KrisD
Intuit Alumni

Paid tuition in 2016 for classes that begin for an associate's degree program beginning in 2017. TurboTax asks: Did you attend another school in 2016? What do i do?

Yes, you claim what you paid in 2016 on your 2016 tax year return.

You would apply it to the tuition the school billed for 2017, but you paid in 2016.

According to the IRS:

“Prepaid expenses. Qualified education expenses paid in 2016 for an academic period that begins in the first 3 months of 2017 can be used in figuring an education credit for 2016 only. See Academic period, earlier. For example, if you pay $2,000 in December 2016 for qualified tuition for the 2017 winter quarter that begins in January 2017, you can use that $2,000 in figuring an education credit for 2016 only (if you meet all the other requirements). “


CLICK HERE for IRS Pub 970 Tax Benefits for Education






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3 Replies
KrisD
Intuit Alumni

Paid tuition in 2016 for classes that begin for an associate's degree program beginning in 2017. TurboTax asks: Did you attend another school in 2016? What do i do?

Yes, you claim what you paid in 2016 on your 2016 tax year return.

You would apply it to the tuition the school billed for 2017, but you paid in 2016.

According to the IRS:

“Prepaid expenses. Qualified education expenses paid in 2016 for an academic period that begins in the first 3 months of 2017 can be used in figuring an education credit for 2016 only. See Academic period, earlier. For example, if you pay $2,000 in December 2016 for qualified tuition for the 2017 winter quarter that begins in January 2017, you can use that $2,000 in figuring an education credit for 2016 only (if you meet all the other requirements). “


CLICK HERE for IRS Pub 970 Tax Benefits for Education






Jquez
Level 3

Paid tuition in 2016 for classes that begin for an associate's degree program beginning in 2017. TurboTax asks: Did you attend another school in 2016? What do i do?

Thank you Kris!
KrisD
Intuit Alumni

Paid tuition in 2016 for classes that begin for an associate's degree program beginning in 2017. TurboTax asks: Did you attend another school in 2016? What do i do?

Thank you for using TurboTax.

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