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1098-t
My taxes are not complicated, but every year I just feel sick when it comes time to do them. I have a new question this year...
In 2010 I took classes in fall at a university, and I paid the tuition late -- in January 2011. So I didn't put that amount in my 2010 taxes because I paid it in 2011. I thought that made sense. But the 1098-T I received from the university for 2011 is showing the amount I paid in 2011 as an adjustment in Box 4 -- but I never claimed it in 2010, so do I need to adjust for it? Maybe I'm confused, I'll double-check the taxes I filed last year, but I remember that I was billed in 2010 (and my 1098-T showed "amount BILLED") but I didn't claim it -- I couldn't, of course -- because I didn't pay until Jan. 2011.
Do I have to file amended taxes for 2010 showing the amount I paid for that year's tuition, or can I claim the tuition payments in my 2011 taxes since that's when I paid? Honestly, I would rather lose out on a bit of a refund and just not fuss with amending taxes, but will 2011's 1098-T showing an adjustment cause a problem? Can I just not claim it at all? It would not bother me to lose out on a few dollars if it causes me less stress, honestly.
In 2010 I took classes in fall at a university, and I paid the tuition late -- in January 2011. So I didn't put that amount in my 2010 taxes because I paid it in 2011. I thought that made sense. But the 1098-T I received from the university for 2011 is showing the amount I paid in 2011 as an adjustment in Box 4 -- but I never claimed it in 2010, so do I need to adjust for it? Maybe I'm confused, I'll double-check the taxes I filed last year, but I remember that I was billed in 2010 (and my 1098-T showed "amount BILLED") but I didn't claim it -- I couldn't, of course -- because I didn't pay until Jan. 2011.
Do I have to file amended taxes for 2010 showing the amount I paid for that year's tuition, or can I claim the tuition payments in my 2011 taxes since that's when I paid? Honestly, I would rather lose out on a bit of a refund and just not fuss with amending taxes, but will 2011's 1098-T showing an adjustment cause a problem? Can I just not claim it at all? It would not bother me to lose out on a few dollars if it causes me less stress, honestly.
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