[Smitty11]

Hi all,

I’m working on my tax return and I came to the education credit section. My 2013 1098-T shows a tuition amount of over $10,000 and my 2014 1098-T shows around $1,000. Like many colleges do, my 2013 1098-T included tuition (about $3,800) that was for the 2014 school year. Would I be able to include that on my 2014 return, since it really didn’t benefit me on the 2013 return, because I already had enough qualified expenses? Or am I out of luck because it was sent on the 2013 1098-T? Box 7 was checked on my 2013 form, indicating that a portion of the tuition was for an academic term beginning January-March 2014.

Thank you!

[Skynet]

You're out of luck on that one since it was already applied to 2013.

[s2sylvir]

My understanding: You're out of luck. You can claim it, but sooner or later, maybe a week later or 2 years later, the IRS is gonna catch it, adjust your refund, ask you to pay back the amount of refund PLUS interest and/or penalty on the amount attributable to you overstating your tuition expense.

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[juuustin]

You are out of luck for the simple reason that you are a cash-basis taxpayer.

MD Candidate: 10/1/14

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[slgavin7]

In which year was the tuition paid? It is my understanding that box 7 on 1098-T can relate to tuition charges billed and paid or billed and not paid. As other have pointed out, you are a cash-basis taxpayer to the IRS.

Basically, if the 2014 tuition was paid in 2013, then you should have claimed it in 2013 and it is of no use to you now (tax-wise). If it was paid in 2014 however, then it shouldn't have been claimed in 2013 in the first place.

It's not entirely clear from your original post what actually transpired.

[Smitty11]

@slgavin7 The tuition was actually paid in 2014. It was included on the 2013 1098-T because signup for spring 2014 classes was done in October 2013, and thus they “billed” me on the date that I signed up. Not sure if this will make a difference or not but wanted to point that out.

Thanks everyone for your responses

[Author]

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