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Education Credits

fasteddie577 — Sun, 01 Mar 2020 16:45:12 GMT

Helping my son with his tax return. For the education credits and the reported the tuition, books, course material expenses, do I report only the expenses that were paid in 2019 or do I report the actual expenses whether paid or not? For example the 2019 spring semester is usually billed in November/December of 2018. Thanks

Re: Education Credits

DianeC958 — Sun, 01 Mar 2020 17:32:26 GMT

You only report the expenses that were paid in 2019.

You are a cash basis tax payer and your report income and deductions/expenses in the year the actually occurred.

Re: Education Credits

fasteddie577 — Sun, 01 Mar 2020 17:42:48 GMT

Thank you DianeC958. Great job!