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fasteddie577
Level 6
March 1, 2020
Question

Education Credits

  • March 1, 2020
  • 2 replies
  • 26 views

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

2 replies

Level 12
March 1, 2020

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.

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fasteddie577
Level 6
March 1, 2020

Thank you DianeC958. Great job!