nafshar32
New Member

Academic year ended 2015 but paid the remainder of tuition in 2016, can i deduct for 2016? 1098 only for 2015 but I have bill statements showing paid in 2016.

 
nafshar32
New Member

Education

Ok thank you for the clarification.  The remaining balance I paid in 2016 for 2015 classes was about 12,000.  If i cant claim on this year's tax return for 2016, do I need to file an amended 2015 form? Thanks!
KrisD
Intuit Alumni

Education

If you paid in 2016 for classes that you took in 2016, yes.

If you paid in 2016 for classes that were in 2015, no.

If the school "BILLED" in 2015 for classes that started in 2016, you can pay in 2015 or 2016 and take a credit in the year you paid, but if the classes were in 2015, you can only get a credit for what you paid in 2015 on your 2015 tax year return.

CLICK HERE for IRS Pub 970 Tax Benefits for Education



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