Tax Form College Tuition
February 7th, 2010
Question: if i am in college and i paid my total tuition, are they suposed to give me a tax form?
I go to a community college and I paid for my total tuition. Were they suposed to give me a form to do my taxes?
Answer: If you were in college in 2006, and you paid tuition, yes the college should have sent you a form to use for your taxes. The form is a 1098-T.
The tax benefit for paying college tuition is that you may be able to take the Hope Credit or Lifetime Learning Credit.
However, just because they did not send you the form does not mean that you can’t take the tax credit. The form just makes it easier to determine how much tuition you paid. Receipt of the form is not what determines eligibility for the tax credit. Meeting the IRS requirements for the tax credit is what determines eligibility. You can look at your tuition bill to see what you were billed in tuition and use those numbers when you figure out your taxes.
Many happy returns — Tax preparers can help sort through laws, credits, and deductions
For Glen Mitchell of Tax Center, the busy income tax preparation season is beginning. People have received the income forms they need from their employers — and those who are expecting a refund tend to file their taxes earlier than those who will be paying, he said.
MVCC Ecology & Field Biology Marine Bio BIO 220 Belize June 2010
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