FORM 1098T

[TAXMAN]

OK I am not sure. In 2015 TP received 1098T with the box checked includes amount for the next spring. TP had more than amount needed for ed last year without using the amount billed for the spring amount. In 2016 TP finished and paid a payment for what was still owed. 2016 Form 1098T has absolutely no #'S on it at all. So question becomes what do you do with a payment in Jan 2016 that paid for the spring quarter since the 1098T has no numbers on it? 

[Catherine]

Bursar's Office printout of charges and payments (with dates) for the year.

[TAXMAN]

Catherine

That's what I thought even though the 1098T has no numbers on it. TP still paid and still went to school.

Now if I may ask if school cost 2600 and we got non repayable grant  money of 2500 and scholarship money paid to school of 1500 and school refunds to tp 1400 can I choose to pay the tax on the scholarship money on daughters return and take the ed credit on mom and dad? I think somewhere I read this is ok.

[Catherine]

It's late and I'm tired so I did NOT go through all your numbers, even in my head.  But in general, as long as you make taxable income the source of payments, you can take the ed credits.  Who gets them and refundable or not is in the details that I'm too tired to parse out.

[Possi]

10 hours ago, TAXMAN said:

Catherine

That's what I thought even though the 1098T has no numbers on it. TP still paid and still went to school.

Now if I may ask if school cost 2600 and we got non repayable grant  money of 2500 and scholarship money paid to school of 1500 and school refunds to tp 1400 can I choose to pay the tax on the scholarship money on daughters return and take the ed credit on mom and dad? I think somewhere I read this is ok.

This is a question for Rita! She might hug me for this!

[RitaB]

4 hours ago, Possi said:

This is a question for Rita! She might hug me for this!

Catherine nailed it.  Tired or no.

[TAXMAN]

Thank you. I am glad to see that great minds think alike.