I printed my bills, T forms and Q forms. I think I am interpreting them correctly..except for the T form scholarship…that seems confusing. See below. I am waiting to hear from the school to try to determine if my interpretation is correct .
Tax Year 2018:
She started school in fall 2018.
School Billed me for fa18 and sp19 in calendar 2018.
2018 T seems to show Payments received for fa18 and sp19.
2018 T seems to show scholarships awarded for one semester. (fa18 ???)
2018 Q seems to show distributions made for fa18 and sp19.
Turbo tax allowed me the AOC credit.
Tax Year 2019:
School billed for fa19 and sp20 in calendar 2019.
2019 T seems to show payments received for fa19 and sp20.
2019 T seems to show scholarships awarded for 2 semesters. (sp19, fa19????)
2019 Q seems to show distributions made for fa19 and sp20.
Turbo tax allowed me the AOC credit.
Tax Year 2020:
School billed for fa20 and sp21 in calendar 2020.
2020 T seems to show payments received for fa20 and sp21.
2020 T seems to show scholarships awarded for 2 semesters. (sp20 and fa20???)
2020 Q seems to show distributions made for fa20 only.
*My late payment for sp21 (made in 2021 messed up the Q form)
**I think they booked my late payment which they received in 2021 to 2020 on the T form.
*** I think TT will allow the AOC credit.
Tax Year 2021:
School will bill for fa21 and sp22.
2021 T will show payments received for fa21 and sp22.
2021 T will show scholarships awarded for 2 semesters. (sp21 and fa21???)
2021 Q will show distributions made for sp21(my late payment), fa21 and sp22
* I assume TT will not allow the AOC credit.
** Will TT want to tax what appears to be the excess distribution for 3 semesters against payments received on T form for two semesters???
She has now graduated!
What can I should I be doing for calendar tax year 2020 and next year, 2021.
