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Level 1
Mar 19, 2020 5:22 PM UTC
Question

1098-T Amounts

Received a 1098-T for my son who is in his first year of college: started Fall Semester 2019-( Only one Semester in Year 2019):

(1) The 1098-T shows amounts for Tuition and Scholarships paid/received for Fall Semester 2019 only.

(2) Paid the Spring Semester 2020 Bill-included Tuition and Scholarships- in December 2019.

(3) Question: In which Year do I include/report  the tuition/fees, room/board, and scholarships for the Spring Semester 2020?

(a) Do I include for  2019, in which case the amounts will differ from the 2019 1098-T received?

(b) Or do I wait to allocate and report for 2020 for the Spring Semester 2020?

    1 reply

    Level 15
    Mar 19, 2020 5:27 PM UTC

    it might just be easier to match the 1098T - it'll remove confusion over the 4 years and work itself out in the end.  You can only get $10,000 of AOTC over 4 years even though you are going to receive 1098T's for 5 years. 

     

    Also, room and board is NOT a qualified expense.  it will have no impact on the credit you are eligible for,