in Education
Hello everyone,
I have a question. When I filed my 2019 taxes I wasn't aware that I could file my school and when I opted to put in my information because I was new in college and wasn't form or aware of the 1098T or where to get it. So, I didn't file with my school that year. I recently learned that I could amend my taxes for that year and file my school and get the difference back. Now, my dilemma; the school I was attending has closed down and I can't get the 1098t for that year, nor can I find out where to get it and I've called and called and can't get it. So, I was wondering if I could use the information from my school for the year 2020 and put it on my 2019 taxes because I wasn't in school bot both years and there was no change in those two years, or do I have to have the 2019 1098T in order to amend them. I tried asking this about a month ago but I didn't word the question correctly. Thanks everyone in advance for your feedback!
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You can get a WAGE AND INCOME transcript from the IRS for 2019 and see if it is there. Go to Get Transcript | Internal Revenue Service.
If you cannot get the information, you may be able to use your school invoices and payments, but try to get that IRS transcript first.
It is not an absolute necessity (in your case) that you have a 1098-T. In TurboTax, answer that you qualify for an exception.
Be aware that a full time unmarried student, under age 24, even if you don't qualify as a dependent, is only eligible for the refundable portion of the American Opportunity Credit if he supports himself by working. You cannot be supporting yourself on parental support, 529 plans or student loans & grants. You usually must have actually paid tuition, not had it paid by scholarships & grants. It is usually best if the parent claims that credit.
You cannot claim a credit if you are, or can be, claimed as a dependent by someone else.
Reference: Line 7 instructions for form 8863. https://www.irs.gov/instructions/i8863
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