College admission paid and AOC

[Lucho]

School paid 2/3 of part of admission for 2010 year and parents paid the other 1/3. Child did not received any form 1098-T from school and parents wants to claim the AOC. Is the amount paid by parents considered a qualified expense for the American Opportunity Credit? The instructions for claiming the credit does not mention anything like this.

Thank you for any help.

Lucho

[Catherine]

School paid 2/3 of part of admission for 2010 year and parents paid the other 1/3. Child did not received any form 1098-T from school and parents wants to claim the AOC. Is the amount paid by parents considered a qualified expense for the American Opportunity Credit? The instructions for claiming the credit does not mention anything like this.

Thank you for any help.

Lucho

Is student in first four years of college and not still in high school?

Is student in degree-awarding program?

Is student at least half-time?

Were amounts paid for 2010 or first three months of 2011?

If yes to all of the above and the student does NOT have a felony drug conviction, then AOC should be fine.

And just FYI -- many 1098-T's are full of nonsense and bogus information anyway. When in doubt, get exact figures from parents and student (check copies, credit card statements) and a statement of account from the school bursar's office.

Catherirne

[Lucho]

Is student in first four years of college and not still in high school?

Is student in degree-awarding program?

Is student at least half-time?

Were amounts paid for 2010 or first three months of 2011?

If yes to all of the above and the student does NOT have a felony drug conviction, then AOC should be fine.

And just FYI -- many 1098-T's are full of nonsense and bogus information anyway. When in doubt, get exact figures from parents and student (check copies, credit card statements) and a statement of account from the school bursar's office.

Catherirne

Thank you Katherine. Have a wonderfull afternoon.

Lucho