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mtnbkr · Feb 3, 2009, 06:02 PM

I have 2009 Spring courses that are showing up on my 2008 1098-t. Box 7 is checked indicating this fact. Based on my interpretation of pub970, it says that expenses paid in 2008 for spring courses in 2009 CAN be claimed on your 2008 return. I want to know if I can edit the total amount, claiming only the amount that is for 2008 classes, and subtract out the Spring 2009 courses from the total, saving this amount for 2009 taxes. It wasn't clear to me in pub970 as it just says it's eligible, but didn't sound like it was necessary. Thank you.

MukatA · Feb 3, 2009, 07:32 PM

Tuition and fees paid in 2008 can be deducted in 2008 or you can claim education credit.

mtnbkr · Feb 3, 2009, 07:51 PM

Originally Posted by MukatA

Tuition and fees paid in 2008 can be deducted in 2008 or you can claim education credit.

I wanted to know if I the payment in 2008 for the Spring 2009 tuition can be subtracted from the 1098 and claimed for next tax year, 2009. I would reduce the amount I am claiming for 2008 by the amount of the Spring 2009 tuition and add that amount to my 2009 1098-t. Is that allowed? Thanks.

mtnbkr · Feb 4, 2009, 06:08 PM

Originally Posted by mtnbkr

I wanted to know if I the payment in 2008 for the Spring 2009 tuition can be subtracted from the 1098 and claimed for next tax year, 2009. I would reduce the amount I am claiming for 2008 by the amount of the Spring 2009 tuition and add that amount to my 2009 1098-t. Is that allowed? Thanks.

I know you guys are busy... thanks

AtlantaTaxExpert · Feb 10, 2009, 01:43 PM

MtnBkr:

No, you cannot. You are a "cash basis" taxpayer, which means the year the payment is made is the year you MUST claim the payment as income as the recipient or deduct the payment as payer.