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joeyfortina
New Member

When do I claim tuition expense for a winter semester

When do I claim tuition expense for a winter semester (class: 1/3/17-1/20/17) paid on 11/3/16. Its not on 1098t
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Accepted Solutions
KrisD
Intuit Alumni

When do I claim tuition expense for a winter semester

You claim that payment in tax year 2016.

Enter the 1098-T as the school reported it, but use your school student account statement to make sure you get credit for everything that was paid to the school in 2016. Add any other expenses, such as books and supplies, on the additional education expenses screens.

If you need to add to the 1098-T, you can click on the link "What if this is not what I paid to the school?" below box 2 on the 1098-T screen and enter what was paid. This includes scholarships, grants, loans, gifts, and cash. Make sure you keep receipts and statements with your tax file.

(see screen shot below)

According to the IRS:

"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). “

"The American opportunity credit is based on adjusted qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Generally, the credit is allowed for adjusted qualified education expenses paid in 2016 for an academic period beginning in 2016 or beginning in the first 3 months of 2017. For example, if you paid $1,500 in December 2016 for qualified tuition for the spring 2017 semester beginning January 2017, you can use that $1,500 in figuring your 2016 credit. "



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1 Reply
KrisD
Intuit Alumni

When do I claim tuition expense for a winter semester

You claim that payment in tax year 2016.

Enter the 1098-T as the school reported it, but use your school student account statement to make sure you get credit for everything that was paid to the school in 2016. Add any other expenses, such as books and supplies, on the additional education expenses screens.

If you need to add to the 1098-T, you can click on the link "What if this is not what I paid to the school?" below box 2 on the 1098-T screen and enter what was paid. This includes scholarships, grants, loans, gifts, and cash. Make sure you keep receipts and statements with your tax file.

(see screen shot below)

According to the IRS:

"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). “

"The American opportunity credit is based on adjusted qualified education expenses you pay for yourself, your spouse, or a dependent for whom you claim an exemption on your tax return. Generally, the credit is allowed for adjusted qualified education expenses paid in 2016 for an academic period beginning in 2016 or beginning in the first 3 months of 2017. For example, if you paid $1,500 in December 2016 for qualified tuition for the spring 2017 semester beginning January 2017, you can use that $1,500 in figuring your 2016 credit. "



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