Yes.
The reason is this: School years and calendar
years sometimes overlap. If the school billed in December 2016 for classes that
started in January 2017 and-
if you paid for the classes in 2016, those fees are
education expenses for 2016
if you paid for the classes in 2017, those fees are
education expenses for 2017
Credits are based on what was paid in the tax year.
According to the IRS:
“If your school sent
you a 1098-T in 2016 and it showed that you were billed in 2016 for classes
that started in 2017, and you paid for those classes in 2017, you may use that
amount to apply for an education credit in 2017. You may or may not receive a
1098-T in 2017 from the school. You could not have used that amount (the fee
for the 2017 classes) towards a credit last year.
Type 1098-T into the search box to get to the education section and enter the expenses without a 1098-T stating that you do have an exception.
You can do this by answering the interview questions in the program.
Be sure to keep a copy of the students school account statement with your tax file.
Make sure you did not use those same expenses towards a credit in 2016.
CLICK HERE for IRS Pub 970 Education Credits
