ILLMAS Posted February 24, 2017 Report Share Posted February 24, 2017 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? Quote Link to comment Share on other sites More sharing options...
ILLMAS Posted February 24, 2017 Author Report Share Posted February 24, 2017 I'll make this a part II question, if a student enrolls, drops all classes, pays the bill, are they entitled to a credit? Quote Link to comment Share on other sites More sharing options...
Jack from Ohio Posted February 24, 2017 Report Share Posted February 24, 2017 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 Quote Link to comment Share on other sites More sharing options...
SaraEA Posted February 25, 2017 Report Share Posted February 25, 2017 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.) 3 Quote Link to comment Share on other sites More sharing options...
Pacun Posted February 25, 2017 Report Share Posted February 25, 2017 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. Quote Link to comment Share on other sites More sharing options...
Cathy Posted February 26, 2017 Report Share Posted February 26, 2017 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 Quote Link to comment Share on other sites More sharing options...
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