1098-T Question: Received in 2016 with Box 7 checked but attended Spring 2017 term. Did not receive a 1098-T this year - what to do?

kristine — Tue, 04 Jun 2019 22:32:51 GMT

I was a full time student in 2016 for the entire year and received a 1098-T with boxes 2 and 5 filled in and boxes 7 and 8 checked. I reported this information on my 2016 tax return to qualify for the credit. I finished out my degree during the 2017 Spring semester which ran from January of 2018 through my official graduation date of June 30, 2018. I reached out to my school and will not be receiving a 1098-T for 2017 because I received one in 2016 with Box 7 checked.

Am I able to report this on my 2017 taxes since I was a full-time student for 6 months and the semester was in 2017? My statements from the school show that loan disbursements occurred to them on or after January 9. 2017 which means they were paid in 2017 which leads me to believe I may still somehow be able to report this. I can't figure out how to do that appropriately within TurboTax Premier.

I appreciate the assistance with if I can still claim the credit and how to do so within the platform. Please let me know if more detail is needed.

The reason you did not get a 2017 1098-T is this: School...

KrisD — Tue, 04 Jun 2019 22:32:53 GMT

The reason you did not get a 2017 1098-T is this: School years and calendar years sometimes overlap. If the school billed in December 2016 for classes that started in January 2017 and-

if you paid for the classes in 2016, those fees are education expenses for 2016

if you paid for the classes in 2017, those fees are education expenses for 2017

Credits are based on what was paid in the tax year.

You can enter the expenses into the TurboTax software. The interview questions allow you to claim expenses without a 1098-T if you had a 1098-T last year, Box 7 was checked, and you did not use the 2017 expenses for a credit on your 2016 return.

According to the IRS:

“If your school sent you a 1098-T in 2016 and it showed that you were billed in 2016 for classes that started in 2017, and you paid for those classes in 2017, you may use that amount to apply for an education credit in 2017. You may or may not receive a 1098-T in 2017 from the school. You could not have used that amount (the fee for the 2017 classes) towards a credit last year.

Prepaid expenses. Qualified education expenses paid in 2017 for an academic period that begins in the first 3 months of 2018 can be used in figuring an education credit for 2017 only. See Academic period, earlier. For example, if you pay $2,000 in December 2017 for qualified tuition for the 2018 winter quarter that begins in January 2018, you can use that $2,000 in figuring an education credit for 2017 only (if you meet all the other requirements).

You can't use any amount you paid in 2016 or 2018 to figure the qualified education expenses you use to figure your 2017 education credit(s).”

CLICK HERE for IRS Pub 970 Education Credits

topic 1098-T Question: Received in 2016 with Box 7 checked but attended Spring 2017 term. Did not receive a 1098-T this year - what to do? in Education

1098-T Question: Received in 2016 with Box 7 checked but attended Spring 2017 term. Did not receive a 1098-T this year - what to do?

The reason you did not get a 2017 1098-T is this: School...