kastnna wrote:

- quote -

Yes. You paid it in 2006 for a 2006 academic period.

--
Alan
http://taxtopics.net

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"kastnna" <kast...[at]auburnalum.org> wrote:

- quote -

1098-Ts are notoriously inaccurate. Deductions/credits
should be claimed on when actual expenses are paid, not on
what the university sends to you in a 1098-T.

Dennis

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kastnna[at]auburnalum.org (kastnna) posted:

- quote -

Yes. All individual federal taxes are normally calculated
on a "cash basis" -- i.e., deductions may be taken only for
payments actually made during the calendar year for which
the tax return is prepared.

As you noted, the instructions cite the deduction is for
qualified expenses PAID. Go ahead and take it, but keep
your records, including the bursar's statement, in the event
your return is examined.

Bill

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"kastnna" <kastnna[at]auburnalum.org> wrote:

- quote -

Yes. The only time I've seen a correct 1098-T is in
publication exhibits. Even the IRS warns you to work from
financial records, not the 1098-T.

--
Phil Marti
Clarksburg, MD

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My wife finished her undergrad degree in May of 2006. She
was billed for the spring '06 semester in December '05, but
did not make the payment until January '06. Her bursar's
statement supports this statement. We did not receive a
1098-T because it only shows when she was "billed."
According to the IRS, the deduction is for qualified tution
expenses PAID in 2006.

Should I be allowed to take the deduction even though I have
no 1098-T?

Thanks

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