Tax

Have a tax question? Ask a tax Expert

Ask an Expert,
Get an Answer ASAP!

This answer was rated:

Tax Question Child is going overseas to college. They accept…

Tax Question Child is going overseas...
Tax Question
Child is going overseas to college. They accept 529, but won't issue a 1098-T. How do I show expenses on the tax return? What do I use? Please provide IRS references.
Show More
Show Less
Ask Your Own Tax Question
Answered in 39 minutes by:
3/27/2018
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,324
Experience: Taxes, Immigration, Labor Relations
Verified

See page 9

https://www.irs.gov/pub/irs-pdf/p970.pdf

Form 1098-T requirement.

To be eligible to claim the American opportunity credit, the law requires a taxpayer (or a dependent) to have received Form 1098-T, Tuition Statement, from an eligible educational institution.
However, for tax year 2017, a taxpayer may claim the credit if the student doesn't receive a Form 1098-T be-cause the student's educational institution isn't required to send a Form 1098-T to the student under existing rules (for example, if the student is a nonresident alien, has qualified education expenses paid entirely with scholar-ships, has qualified education expenses paid under a for-mal billing arrangement, or is enrolled in courses for which no academic credit is awarded).
If a student's educational institution isn't required to provide a Form 1098-T to the student, a taxpayer may claim the credit without a Form 1098-T if the taxpayer otherwise qualifies, can demonstrate that the taxpayer (or a dependent) was enrolled at an eligible educational institution, and can substantiate the payment of qualified tuition and related expenses.

.

page 13

Eligible educational institution. An eligible educational institution is generally any accredited public, nonprofit, or proprietary (privately owned profit-making) college, university, vocational school, or other postsecondary educational institution. Also, the institution must be eligible to participate in a student aid program administered by the U.S. Department of Education.

The educational institution should be able to tell you if it is an eligible educational institution.

.

Let me know if that helps.

Ask Your Own Tax Question
Customer reply replied 4 months ago
Taxpayer might make too much for the credit. Just wanted to make sure he can use the 529 to pay for the expenses.

For 529 plan purposes -

see page 50

Eligible postsecondary school. An eligible postsecondary school is generally any accredited public, nonprofit, or proprietary (privately owned profit-making) college, university, vocational school, or other postsecondary educational institution. Also, the institution must be eligible to participate in a student aid program administered by the U.S. Department of Education.

An eligible educational institution also includes certain educational institutions located outside the United States that are eligible to participate in a student aid program administered by the U.S. Department of Education.

So far - the SAME requirement.

Ask Your Own Tax Question

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.If you still have any doubts, need clarification - please be sure to ask.I am here to help you with all Social Security / Tax related issues.
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,324
Experience: Taxes, Immigration, Labor Relations
Verified
Lev and 87 other Tax Specialists are ready to help you
Ask your own question now
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with a tax professionalLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Lev Your Own Question
Lev
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,324
33,324 Satisfied Customers
Experience: Taxes, Immigration, Labor Relations

Lev is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Wallstreet Esq.

Wallstreet Esq.

Tax Attorney

586 satisfied customers

10 years experience

Mark D

Mark D

Enrolled Agent

1,338 satisfied customers

MBA, EA, Specializing in Business and Individual Tax Returns and Issues

Richard

Richard

Tax Attorney

4,512 satisfied customers

29 years of experience as a tax, real estate, and business attorney.

PhillipsEsq.

PhillipsEsq.

Attorney-at-Law

59 satisfied customers

B.A., M.B.A, J.D.

Robin D.

Robin D.

Senior Tax Advisor 4

15,569 satisfied customers

15years with H & R Block. Divisional leader, Instructor

Megan C

Megan C

Certified Public Accountant (CPA)

8,655 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

jgordosea

jgordosea

Enrolled Agent

2,885 satisfied customers

I've prepared all types of taxes since 1987.

< Previous | Next >

Related Tax Questions
IRS Tax Question: If you pay for your dependents college
IRS Tax Question: If you pay for your dependents college with the 529 plan partially and partially without, how do you determine what is eligible for the education credits or deductions. Please provid… read more
taxmanrog
taxmanrog
Master\u0027s Degree
1,053 satisfied customers
D. I'm attempting to get a Form 1098-T completed by the
For Robin D. I'm attempting to get a Form 1098-T completed by the University of Bristol in respect to my son's tuition for the 2017 tax year. My son's tuition for that year was paid via a loan from St… read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
My son had 2017 deductible educational expenses ( books and
Hi. My son had 2017 deductible educational expenses ( books and devices needed for school) that I was not able to get from my 529 college plan since I paid for it with my credit card. Can I withdraw f… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I completed my 2016 tax return with TurboTax. I received a
I completed my 2016 tax return with TurboTax. I received a CP2000 form from the IRS. I am a on line college student with Penn Foster. I entered what I had paid in 2016 to Penn Foster for my schooling … read more
Robin D.
Robin D.
Senior Tax Advisor 4
Vocational, Technical or Trade School
15,569 satisfied customers
Navy. The Navy paid to send me to the College of & for an
I am Active Duty Navy. The Navy paid to send me to the College of William & Mary for an MBA, which is non-taxable. The Business School covered the difference between what the Navy paid and the total t… read more
Dr. Fiona Chen
Dr. Fiona Chen
President
Ph.D.
1,410 satisfied customers
My daughter was enrolled in college in 2015-2016. The school
My daughter was enrolled in college in 2015-2016. The school tells me that the tuition for the Spring 2016 semester was billed in December 2015 and the 1098-T from 2015 took into account the Spring 20… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,324 satisfied customers
I withdrew 529 money to myself (the trustee) to pay
I withdrew 529 money to myself (the trustee) to pay for my student's college, not knowing how to do this. Now the IRS says that I had 'Other Income', now taxable, even though I paid my child's college… read more
NPVAdvisor
NPVAdvisor
CFP Licensee and Practitioner
Master's Degree
180 satisfied customers
I am asked to pay tax and penalties 529 distribution
I am asked to pay tax and penalties for the 529 distribution in 2013 that I have used for my daughter's qualified education. How do I what documentation I need to provide to prove that?… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,324 satisfied customers
I am a 51 year old disabled man(SSDI benefits) with a child
I am a 51 year old disabled man(SSDI benefits) with a child in college (no income) who lives and is supported by my 82 year old father..he pays the vast majority of living expenses. My questions are 1… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,324 satisfied customers
Can a parent collapse a collenge funded 529 savings program,
Can a parent collapse a collenge funded 529 savings program, to roll it over to their own IRA? What are the limitations if parents don't want to have the 529 college savings plan any longer? Thank you… read more
Anne
Anne
Master Tax Preparer
1,328 satisfied customers
I have a couple questions regarding 529 distributions for college
I have a couple questions regarding 529 distributions for college expenses. First question is does the 1099-Q and 1098-T information go on the beneficary return or the parents if they are still claimi… read more
emc011075
emc011075
Senior Tax Specialist
Bachelor's Degree
16 satisfied customers
I have a form 1098-T. Box 2 is $7741.25. Box 5 is $15,000.
I have a form 1098-T. Box 2 is $7741.25. Box 5 is $15,000. What do I do with these two amounts on the Form 1040?… read more
winktax
winktax
Enrolled Agent
Master's Degree
349 satisfied customers
I am in the midst of my taxes and I am still confused. My
I am in the midst of my taxes and I am still confused. My son is 22 years old. He graduated on May 1st so technically that is 4 months not 5 months. He made $20,000.00. I do not think I can claim him … read more
Jacy
Jacy
Bachelor's Degree
567 satisfied customers
I am trying to do my taxes. I was a fulltime college student
I am trying to do my taxes. I was a fulltime college student last year (and this year). When I add the information from the 1098-T my school sent me, the tax software is telling me that I owe $1500 in… read more
Lev
Lev
Tax Advisor
Bachelor's Degree Equivalent
33,324 satisfied customers
My daughter has the Florida bright fuures scholarship which
My daughter has the Florida bright fuures scholarship which she uses to pay her housing and the Florida pre-paid that we bought 20 years ago that pays about 3/4 of her tution. I was told the bright fu… read more
Wendy Reed
Wendy Reed
Master Tax Advisor Enrolled Agent
Master's Degree
60 satisfied customers
My wife and I started a UGMA saving account for our child many
My wife and I started a UGMA saving account for our child many years ago to be used for college. In 2007 the UGMA was rolled over to a 529 college savings using the same company. Recently my child was… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
529 fiduciary responsibility of parent - my ex-wife is the
529 fiduciary responsibility of parent - my ex-wife is the Account Owner for each child's (3) 529 VCSP/College America account also in their names. Child 1-stepdaughter from previous marriage. settlem… read more
Bill
Bill
Master's Degree
2,278 satisfied customers
My son started college in January 2008. The tuition bill was
My son started college in January 2008. The tuition bill was recived and paid in January 2008. I received a 1098-T for that semester that says 2007, because the college fills in the 1098 based on when… read more
Merlo
Merlo
Tax Consultant
558 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x