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Education
Yes, you can still claim an education credit, even if you did not pass the class. There is not a requirement to pass the class, the requirement is that you are enrolled in the class at least half time. Since you were enrolled full-time, if you are otherwise eligible to claim an education credit, then you can still claim one.
Yes, you can still claim the credit even if they did not issue you a 1098-T.
As for whether they are required to issue you one, when you do not pass the class, This is not one of the specifically stated reasons for a school to not issue you a 1098-T, however, as stated above, if you are eligible, you can still claim an education credit without the 1098-T.
The qualifications of the credits are below:
- You can take this for an unlimited number of years
- Twenty percent of expenses up to $2,000
- Non-Refundable meaning this can reduce the amount of taxes you owe, but if your tax liability is less than the LLC, your tax will be reduced to $0 and the rest of the credit is lost.
- Cannot be claimed as a dependent on any one else's return
- As a Married couple, your income must be below $160,000 for the full credit and below $180,000 for a partial credit
American Opportunity Tax Credit.
- Available for the first 4 years of college
- Max amount is $2,500 per student
- Be enrolled in a degree or credential seeking program
- Not have a felony drug conviction
- Be enrolled at least half time
- cannot be claimed as a dependent on anyone else's return.
- As a Married couple, your income must be below $160,000 for the full credit and below $180,000 for a partial credit
Tax Deductions for Voluntary Interest Payments on Student Loans
What Are Education Tax Credits
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