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Old 02-24-2005, 08:15 AM
Harlan Lunsford
Guest
 
Posts: n/a
Default Re: Education Credits

Bryan Kellar wrote:
- quote -

> <michael.bratt[at]wdn.com> wrote:

> > Some questions about the education credits:
> > > 1. Is a college required to send Form 1098-T listing your

> > expenses for the year? What if it doesn't? Can you use
> > invoices, receipts, cancelled checks as proof of expenses?


> They probably are. If you have a statement of account from
> the college showing a breakdown of the fees charged and what
> you paid, then all of the information is there. My
> daughter's university used to send a blank 1098-T without an
> amount and a printout of the student account. We never had
> a problem.


> > 2. Does attendance at a foreign college (e.g., McGill in
> > Montreal) still qualify for these credits? They, obviously,
> > will not send a Form 1098-T. What proof is needed?


> One of the requirements is that the college must be "Any
> college, university, vocational school, or other
> postsecondary educational institution eligible to
> participate in a student aid program administered by the
> Department of Education." Surprisingly, I was snooping
> around the US DOE website one day for a client in Vancouver
> and noticed that UBC and a couple of other BC institutions
> were on the list. I'm not sure just what their criteria is,
> but McGill is a big enough of a university that it could
> very well be on the list. I don't remember exactly where
> the list is offhand, but if you go to the Financial Aid
> website http://www.fafsa.ed.gov its likely there somewhere.


Ask and ye shall receive; knock and ... something like that.

thanks Bryan, since I just commented about Kennedy Western
above.

Here is the link:
http://www.fafsa.ed.gov/fotw0506/fslookup.htm

ChEAr$,
Harlan Lunsford, EA n LA
Wed 23 Feb 2005

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  #3  
Old 02-24-2005, 08:15 AM
Harlan Lunsford
Guest
 
Posts: n/a
Default Re: Education Credits

David Woods, EA, ChFC, CLU wrote:
- quote -

> "michael.bratt[at]wdn.com" <michael.bratt[at]wdn.com> wrote:

> > Some questions about the education credits:
> > > 1. Is a college required to send Form 1098-T listing your

> > expenses for the year? What if it doesn't? Can you use
> > invoices, receipts, cancelled checks as proof of expenses?


> Not sure.


> > 2. Does attendance at a foreign college (e.g., McGill in
> > Montreal) still qualify for these credits? They, obviously,
> > will not send a Form 1098-T. What proof is needed?


> AFAIK the institution in question needs to be eligible to
> receive federal student aid, IOW, an US institution. Unless
> non-US schools are eligible to receive US government student
> loan proceeds, Pell Grants, etc.


As a parallel consideration, client the other day said he
had not received his 1098-T from Kennedy-Western for over
4,000$. I asked what is that, since I'd never heard of it.
He said it seems more and more like a "diploma mill", since
they were evasive about the 1098-T. So I look at their web
site and use their own search utility for the web site,
searching for 1098-T with negative results. Everything
else is on the site though, advantages of education, hype
about awarding credits for "life experience" (ah hah! I
know!)

Does anybody know of any web site which might be helpful in
determing is any particular "institution" or diploma mill
meets requirements Dave outlines above?

ChEAr$,
Harlan Lunsford, EA n LA
Wed 23 Feb 2005

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  #2  
Old 02-24-2005, 06:58 AM
A.G. Kalman
Guest
 
Posts: n/a
Default Re: Education Credits

Bryan Kellar wrote:
- quote -

> <michael.bratt[at]wdn.com> wrote:

> > Some questions about the education credits:
> > > 1. Is a college required to send Form 1098-T listing your

> > expenses for the year? What if it doesn't? Can you use
> > invoices, receipts, cancelled checks as proof of expenses?


> They probably are. If you have a statement of account from
> the college showing a breakdown of the fees charged and what
> you paid, then all of the information is there. My
> daughter's university used to send a blank 1098-T without an
> amount and a printout of the student account. We never had
> a problem.


> > 2. Does attendance at a foreign college (e.g., McGill in
> > Montreal) still qualify for these credits? They, obviously,
> > will not send a Form 1098-T. What proof is needed?


> One of the requirements is that the college must be "Any
> college, university, vocational school, or other
> postsecondary educational institution eligible to
> participate in a student aid program administered by the
> Department of Education." Surprisingly, I was snooping
> around the US DOE website one day for a client in Vancouver
> and noticed that UBC and a couple of other BC institutions
> were on the list. I'm not sure just what their criteria is,
> but McGill is a big enough of a university that it could
> very well be on the list. I don't remember exactly where
> the list is offhand, but if you go to the Financial Aid
> website http://www.fafsa.ed.gov its likely there somewhere.


The lookup form for eligible schools is at:
http://www.fafsa.ed.gov/fotw0506/fslookup.htm

--
Alan
http://taxtopics.net

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  #1  
Old 02-23-2005, 05:11 AM
Bryan Kellar
Guest
 
Posts: n/a
Default Re: Education Credits

<michael.bratt[at]wdn.com> wrote:

- quote -

> Some questions about the education credits:
> 1. Is a college required to send Form 1098-T listing your
> expenses for the year? What if it doesn't? Can you use
> invoices, receipts, cancelled checks as proof of expenses?


They probably are. If you have a statement of account from
the college showing a breakdown of the fees charged and what
you paid, then all of the information is there. My
daughter's university used to send a blank 1098-T without an
amount and a printout of the student account. We never had
a problem.

- quote -

> 2. Does attendance at a foreign college (e.g., McGill in
> Montreal) still qualify for these credits? They, obviously,
> will not send a Form 1098-T. What proof is needed?


One of the requirements is that the college must be "Any
college, university, vocational school, or other
postsecondary educational institution eligible to
participate in a student aid program administered by the
Department of Education." Surprisingly, I was snooping
around the US DOE website one day for a client in Vancouver
and noticed that UBC and a couple of other BC institutions
were on the list. I'm not sure just what their criteria is,
but McGill is a big enough of a university that it could
very well be on the list. I don't remember exactly where
the list is offhand, but if you go to the Financial Aid
website http://www.fafsa.ed.gov its likely there somewhere.

Bryan

--
Bryan Kellar, EA
Oregon Tax Help, Inc. Portland, Oregon
www.oregontaxhelp.com
www.canadatax.org

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Old 02-23-2005, 04:14 AM
David Woods, EA, ChFC, CLU
Guest
 
Posts: n/a
Default Re: Education Credits

"michael.bratt[at]wdn.com" <michael.bratt[at]wdn.com> wrote:

- quote -

> Some questions about the education credits:
> 1. Is a college required to send Form 1098-T listing your
> expenses for the year? What if it doesn't? Can you use
> invoices, receipts, cancelled checks as proof of expenses?


Not sure.

- quote -

> 2. Does attendance at a foreign college (e.g., McGill in
> Montreal) still qualify for these credits? They, obviously,
> will not send a Form 1098-T. What proof is needed?


AFAIK the institution in question needs to be eligible to
receive federal student aid, IOW, an US institution. Unless
non-US schools are eligible to receive US government student
loan proceeds, Pell Grants, etc.

--
David M. Woods, EA, ChFC, CLU
Woods Financial Services
Norwood, MA 02062
www.woods-financial.com

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  #-1  
Old 02-21-2005, 06:09 AM
michael.bratt@wdn.com
Guest
 
Posts: n/a
Default Education Credits

Some questions about the education credits:

1. Is a college required to send Form 1098-T listing your
expenses for the year? What if it doesn't? Can you use
invoices, receipts, cancelled checks as proof of expenses?

2. Does attendance at a foreign college (e.g., McGill in
Montreal) still qualify for these credits? They, obviously,
will not send a Form 1098-T. What proof is needed?

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