- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
1098-T question
Posted on 1/26/11 at 10:17 am
Posted on 1/26/11 at 10:17 am
Spouse and I both took some college courses last year.... I just got notification that a 1098-T was on its way to me...
I realize you are not my cpa but what is your knowledge of this form and what amounts can be deducted. Thanks.
I realize you are not my cpa but what is your knowledge of this form and what amounts can be deducted. Thanks.
2
Posted on 1/26/11 at 10:24 am to The Mick
The 1098-T will report the amounts you paid for expenses that qualify for certain education deductions or credits. Usually the credits are a better result than the deductions. See Form 8863 or IRS Pub 970 for more detailed info.
Posted on 1/26/11 at 10:52 am to The Mick
IIRC its up to $4k annually
Posted on 1/26/11 at 11:04 am to Poodlebrain
I am in the same boat with my 1098 T. One question for you; I have an excess of scholarships that I was awarded. Can I still use the amount for qualified tuition and expenses for the Lifetime Learning Credit?
Posted on 1/26/11 at 2:54 pm to lsurulzes88
Not if your scholarship is wipes out all the expense.
Posted on 1/26/11 at 2:58 pm to Poodlebrain
So whatever amount is on the 1098 is deductible from income?
Posted on 1/26/11 at 8:17 pm to The Mick
(no message)
This post was edited on 1/29/11 at 12:17 pm
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News