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Lifetime Learning Credit without 1098-T
My dependent's final semester in college was Jan 2020-May 2020. The college billed us in 2019 and completed the 2019 1098-T reporting the billed amounts in Box 1, with Box 2 blank, and a check mark in Box 7. So they did not send us a 1098-T for 2020. We paid a portion of the tuition in 2019 and a portion in 2020. We have already taken 4 years of the American Opportunity Credit. Can we take the Lifetime Learning Credit in 2020 without receiving a 1098-T? If we do, will we get audited? Turbo Tax is requiring that the 2019 1098-T have an amount in Box 2, however, the form instructions do not mention that requirement, only that Box 7 was checked for 2019. If we can take the Lifetime Learning Credit in 2020, how do we enter that in Turbo Tax?
March 29, 2021
10:50 AM