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Education Credits
Helping my son with his tax return. For the education credits and the reported the tuition, books, course material expenses, do I report only the expenses that were paid in 2019 or do I report the actual expenses whether paid or not? For example the 2019 spring semester is usually billed in November/December of 2018. Thanks
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March 1, 2020
8:45 AM
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Get your taxes done using TurboTax
You only report the expenses that were paid in 2019.
You are a cash basis tax payer and your report income and deductions/expenses in the year the actually occurred.
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March 1, 2020
9:32 AM