There are other moneys from other loans in my school billing section. these are not listed on the 1098. can i still claim these monies as they are all billed in 2016.

lacydean4 — Tue, 04 Jun 2019 22:41:43 GMT

there is an additional 17000 in the billing section but not on the 1098

You clam what was paid in 2016 for tuition (and other edu...

KrisD — Tue, 04 Jun 2019 22:41:44 GMT

You clam what was paid in 2016 for tuition (and other education expenses) for 2016 expenses and possible (you are allowed to take if they were paid in 2016) the first 3 months of 2017.

Report the 1098-T as the school reported it, but if there was additional funds "RECEIVED" by the school in tax year 2016, click under box 2 on the 1098-T screen in the program on the link that says "What if this is not what I paid to the school?" and enter EVERYTHING that was paid to the school. This includes scholarships, grants, loans, gifts, and cash.

(please see screen shot below)

Be sure to keep a copy of proof of those payments, such as your student account statement, with your tax files.

According to the IRS:

“Prepaid expenses. Qualified education expenses paid in 2016 for an academic period that begins in the first 3 months of 2017 can be used in figuring an education credit for 2016 only. See Academic period, earlier. For example, if you pay $2,000 in December 2016 for qualified tuition for the 2017 winter quarter that begins in January 2017, you can use that $2,000 in figuring an education credit for 2016 only (if you meet all the other requirements). “

CLICK HERE for IRS Pub 970 Tax Benefits for Education

CLICK HERE for a guide to the 1098-T

topic There are other moneys from other loans in my school billing section. these are not listed on the 1098. can i still claim these monies as they are all billed in 2016. in Education

There are other moneys from other loans in my school billing section. these are not listed on the 1098. can i still claim these monies as they are all billed in 2016.

You clam what was paid in 2016 for tuition (and other edu...