Education paid in 2012 but no 1098-T form

[nwtaxlady]

Client had gone to College for Occupational Therapy. That Program cost $16,000 and was billed in 2010. But only part of it was paid in 2010. Then 2011 she had some other classes along with the OT classes so there was other tuition bill for those other classes. So she had a 1098-T for 2011. We claimed what was Paid in 2011. The box 7 was not checked. She finished her classes etc. December of 2011 but did not pay the remaining balance of $3236 until 2012.
The 1098-T for 2012 is blank. Just Box 8 checked for at least half time student.
Below the 1098-T is says Tax Report Description Total. Payments $3236.

Can she claim the AOC credit for this amount that was paid in 2012? Even though she did not physically attend classes in 2012. And all the boxes are blank as far as figures.

In past I would go ahead and take it, however since there is more info you have to provide for the education credit I just wasn't sure.

Thanks.

[FEDUKE404]

Settling the account

Client had gone to College for Occupational Therapy. That Program cost $16,000 and was billed in 2010. But only part of it was paid in 2010. Then 2011 she had some other classes along with the OT classes so there was other tuition bill for those other classes. So she had a 1098-T for 2011. We claimed what was Paid in 2011. The box 7 was not checked. She finished her classes etc. December of 2011 but did not pay the remaining balance of $3236 until 2012.
The 1098-T for 2012 is blank. Just Box 8 checked for at least half time student.
Below the 1098-T is says Tax Report Description Total. Payments $3236.

Can she claim the AOC credit for this amount that was paid in 2012? Even though she did not physically attend classes in 2012. And all the boxes are blank as far as figures.

In past I would go ahead and take it, however since there is more info you have to provide for the education credit I just wasn't sure.

Thanks.

Sounds to me like the original Forms 1098-T were reporting the "billed" amount....under these circumstances if you only worked from those you might have a problem.

As for the 2012 Form 1098-T, if the institution is consistent in its practices, in 2012 the student WAS "billed" ZERO.

I've never seen a statement with a line such as the $3,235 amount stated. Sounds as if the school is somewhat giving you the correct information for 2012. For 2012 and 2011 and earlier, if you simply used the "billed" amounts there could be errors that need repairs.

FE

[nwtaxlady]

yes, prior years say billed

Our colleges around here use the box 2 for amounts billed. I have never seen an amount in box 1 for Payments received. Therefore, I always request an account summary by term and see ask when Winter Term was paid.

[Snaggletooth]

We have Wonderful News...

...I've made this statement before, NW Lady.

It starts out one day when you get a letter that says "We have wonderful news! Your W-2, 1099, 1098, is now ONLINE!!"

The only "wonderful news" is to the institution. They are bailing out of postage, printing, collating, paper, etc. and saving
a ton of money and placing the burden of retrievel on YOUR CLIENT.

Many of my clients don't even know they have these forms. The worst are 1098Es, 1098Ts, some 1098s, and even some W-2s.
Usually the client has sense enough to know he has to retrieve his W-2, but the rest of these he has no clue or doesn't take the
time to download or print.

NW Lady, I'll almost betcha what you are looking for the client does have, but it's online. And retrieval is not guaranteed,
either. "Honey I forgot my PIN number - do you remember it?" "It's on my old computer. I just bought a new one."
"I can't get the printer to work..."