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1098t effects two years
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SMF
Jan 31, 2012, 6:24:01 PM1/31/12
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2010 Claimed education credit for costs paid in 2010. Graduated in
the December. Owed nothing. Received scholarship for 2010 in 2011 and
received 1098T for that amount.
With no education costs this year it looks like we have to amend 2010
return to reduce education costs by this scholarship amount. Is this
correct? Painful.
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the December. Owed nothing. Received scholarship for 2010 in 2011 and
received 1098T for that amount.
With no education costs this year it looks like we have to amend 2010
return to reduce education costs by this scholarship amount. Is this
correct? Painful.
--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2011) - All rights reserved. >>
<< ------------------------------------------------------- >>
Phil Marti
Feb 1, 2012, 5:21:20 AM2/1/12
to
On Jan 31, 6:24 pm, SMF wrote:
> 2010 Claimed education credit for costs paid in 2010. Graduated in
> the December. Owed nothing. Received scholarship for 2010 in 2011 and
> received 1098T for that amount.
This is a "recapture" situation. See the appropriate chapter in Pub
> 2010 Claimed education credit for costs paid in 2010. Graduated in
> the December. Owed nothing. Received scholarship for 2010 in 2011 and
> received 1098T for that amount.
970 for how to proceed.
Phil Marti
VITA/TCE Volunteer
Clarksburg, MD
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