topic 5th Year Education in Education

5th Year Education

AverageJoe1925 — Tue, 09 Mar 2021 22:23:24 GMT

My wife graduated last year from college. The college has a 4 year guarantee that she will graduate or else its free. Last year was the 5th year and so it was free. She was not given a 1098 for 2020. Can we still apply that she took classes for 2020 even though we haven't received a 1098?

Re: 5th Year Education

JoannaB2 — Tue, 09 Mar 2021 22:57:18 GMT

No, you will need a form 1098-T to claim the credit. To be eligible to claim the AOTC or LLC (Lifetime Learning Credit), the law requires a taxpayer (or a dependent) to have received Form 1098-T from an eligible educational institution, whether domestic or foreign.

You may claim your out of pocket expenses, if any, as adjustment to your income using Form 8917 (Tuition and Fees Deductions) on line 21 of 1040.

Re: 5th Year Education

Hal_Al — Tue, 09 Mar 2021 23:23:40 GMT

"Apply" to what tax attribute?

You must have actually paid tuition to claim a tuition credit or deduction. If you were out of pocket for books or a computer, you can claim that. In TurboTax, when asked if you got a 1098-T, say not but say yes to the exception question.

If your asking about claiming student status for the purpose of the dependent care credit, you can answer yes.