Hi,
Thank you for the above response! I have an additional question.
I am afraid I made a mistake in my prior post. According to Pub970, "Prepaid expenses. Qualified education expenses paid in 2021 for an academic period that begins in the first 3 months of 2022 can be used in figuring an education credit for 2021 only." This defines prepaid expense in order to claim education credits (American Opportunity Tax Credit) and Lifetime Learning Credit) rather than scholarship.
Hence, is there a requirement for prepaid expense related to scholarship? If yes, can you advise which part of Pub970 I can refer to?
