No 1098-T available

[ILLMAS]

TP child school account summary does not show a 1098-T for 2016 but is able to print out records of payments, what do you recommend I do?  TP child contacted the school but had no luck, should I use 2015 school information or forgo the credit?

[ILLMAS]

I'll make this a part II question, if a student enrolls, drops all classes, pays the bill, are they entitled to a credit?

[Jack from Ohio]

6 minutes ago, ILLMAS said:

I'll make this a part II question, if a student enrolls, drops all classes, pays the bill, are they entitled to a credit?

Must be at least a half time student for 5 months in a calendar year.

NO

[SaraEA]

If the client is eligible for the AOC, the rules this year are that they HAVE to have the 1098T.  It's a worthless form, except that it indicates s/he was perhaps at least a half-time student.  The numbers on it don't count.  If your student can't get one, perhaps it is like Jack said and the kid dropped out.  (If they drop a class and can't get a refund, that amount can be used toward the AOC, but they do have to be at least half-time.)  Maybe the school isn't eligible to participate in the federal student loan program and therefore can't issue the T.  Note that many schools nowadays send the form by email to the student, not the parent.  Maybe the kid didn't pay attention.  (Kind of scary when you think that this generation is our future.)

[Pacun]

Maybe the student is paying a previous year debt and in 2016 everything was paid with scholarships.

I would reconstruct 2015's 1098s-T or 1098-Ts to see if any money was paid in advance and maybe you can use those amounts.

[Cathy]

Illmas,

I had the same problem earlier this year.  With my particular client, she had attended the Spring semester of 2016 ONLY.  The 1098-T that was issued in 2015 had the box checked which indicated it included the Spring 2016 tuition...   I recreated a 1098-T myself before I found out the problem, however, you might want to try checking the box that asks you if the student got a 1098-T with that box checked for 2015.  That might allow you to file without the 1098-T if that was your client's situation.

Again, once until IRS will accept nothing less than calendar year figures on 1098-T's, they are generally worthless....even then, I wouldn't use the figures from the school without getting the student/parents to provide the actual figures.

Cathy