arnolddr
Level 2
10-04-2022
03:53 PM
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Can taxpayer claim difference between 1098t number 1 and number 5 (net) as education expense?
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Level 15
10-04-2022
05:41 PM
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If the rules for the education credits are met, then the TP can use whatever he/she paid for tuition that was not reimbursed, or paid by a scholarship. The 1098T is very unreliable as being correct. You should look at the clients receipts to see what he/she actually paid for the tax year in question
Strongsilence-C PA
Level 10
10-04-2022
05:50 PM
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"...very unreliable". What is your experience with this? Do you think clients (often - sometimes - usually - rarely) have better records than universities and colleges?
Level 15
10-05-2022
10:42 AM
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I have 3 granddaughters who attended 4 years of college, and two were incorrect every year (3 different colleges)