I have a1099T that shows only amount billed and includes academic period Jan. to March 2017. How do I determine the amount paid?

[KrisD · Accepted solution]

The 1098-T should only be used as a guide.

You NEED to use your student school account records.

The IRS bases the education credits only on what was paid to the school in 2016.

If your 2016 1098-T only shows what was billed for the Winter Period 2017 (January - March) but nothing was paid, and no scholarships posted, save the 1098-T for next year.

If you have tuition billed for 2016 AND January - March of 2017, enter the 1098-T as the school reported it, but under box 2 on the 1098-T screen click on "What if this is not what I paid to the school" and enter what was paid. This includes scholarship, grants, loans, gifts, and cash.

(Please see screen shot below)

On the additional screens, add any expenses you paid outside of the school, such as books and supplies.

Remember that if you didn't pay for the Winter classes, don't claim those expenses for 2016, but be sure to add them next year when they are paid.

Also check to see if you paid in 2016 for 2016 Winter classes that were billed in 2015.