Education Credits


M

michael.bratt

Some questions about the education credits:

1. Is a college required to send Form 1098-T listing your
expenses for the year? What if it doesn't? Can you use
invoices, receipts, cancelled checks as proof of expenses?

2. Does attendance at a foreign college (e.g., McGill in
Montreal) still qualify for these credits? They, obviously,
will not send a Form 1098-T. What proof is needed?
 
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D

David Woods, EA, ChFC, CLU

Some questions about the education credits:

1. Is a college required to send Form 1098-T listing your
expenses for the year? What if it doesn't? Can you use
invoices, receipts, cancelled checks as proof of expenses?
Not sure.
2. Does attendance at a foreign college (e.g., McGill in
Montreal) still qualify for these credits? They, obviously,
will not send a Form 1098-T. What proof is needed?
AFAIK the institution in question needs to be eligible to
receive federal student aid, IOW, an US institution. Unless
non-US schools are eligible to receive US government student
loan proceeds, Pell Grants, etc.
 
B

Bryan Kellar

Some questions about the education credits:

1. Is a college required to send Form 1098-T listing your
expenses for the year? What if it doesn't? Can you use
invoices, receipts, cancelled checks as proof of expenses?
They probably are. If you have a statement of account from
the college showing a breakdown of the fees charged and what
you paid, then all of the information is there. My
daughter's university used to send a blank 1098-T without an
amount and a printout of the student account. We never had
a problem.
2. Does attendance at a foreign college (e.g., McGill in
Montreal) still qualify for these credits? They, obviously,
will not send a Form 1098-T. What proof is needed?
One of the requirements is that the college must be "Any
college, university, vocational school, or other
postsecondary educational institution eligible to
participate in a student aid program administered by the
Department of Education." Surprisingly, I was snooping
around the US DOE website one day for a client in Vancouver
and noticed that UBC and a couple of other BC institutions
were on the list. I'm not sure just what their criteria is,
but McGill is a big enough of a university that it could
very well be on the list. I don't remember exactly where
the list is offhand, but if you go to the Financial Aid
website http://www.fafsa.ed.gov its likely there somewhere.

Bryan
 
A

A.G. Kalman

They probably are. If you have a statement of account from
the college showing a breakdown of the fees charged and what
you paid, then all of the information is there. My
daughter's university used to send a blank 1098-T without an
amount and a printout of the student account. We never had
a problem.
One of the requirements is that the college must be "Any
college, university, vocational school, or other
postsecondary educational institution eligible to
participate in a student aid program administered by the
Department of Education." Surprisingly, I was snooping
around the US DOE website one day for a client in Vancouver
and noticed that UBC and a couple of other BC institutions
were on the list. I'm not sure just what their criteria is,
but McGill is a big enough of a university that it could
very well be on the list. I don't remember exactly where
the list is offhand, but if you go to the Financial Aid
website http://www.fafsa.ed.gov its likely there somewhere.
The lookup form for eligible schools is at:
http://www.fafsa.ed.gov/fotw0506/fslookup.htm
 
H

Harlan Lunsford

Not sure.
AFAIK the institution in question needs to be eligible to
receive federal student aid, IOW, an US institution. Unless
non-US schools are eligible to receive US government student
loan proceeds, Pell Grants, etc.
As a parallel consideration, client the other day said he
had not received his 1098-T from Kennedy-Western for over
4,000$. I asked what is that, since I'd never heard of it.
He said it seems more and more like a "diploma mill", since
they were evasive about the 1098-T. So I look at their web
site and use their own search utility for the web site,
searching for 1098-T with negative results. Everything
else is on the site though, advantages of education, hype
about awarding credits for "life experience" (ah hah! I
know!)

Does anybody know of any web site which might be helpful in
determing is any particular "institution" or diploma mill
meets requirements Dave outlines above?

ChEAr$,
Harlan Lunsford, EA n LA
Wed 23 Feb 2005
 
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H

Harlan Lunsford

They probably are. If you have a statement of account from
the college showing a breakdown of the fees charged and what
you paid, then all of the information is there. My
daughter's university used to send a blank 1098-T without an
amount and a printout of the student account. We never had
a problem.
One of the requirements is that the college must be "Any
college, university, vocational school, or other
postsecondary educational institution eligible to
participate in a student aid program administered by the
Department of Education." Surprisingly, I was snooping
around the US DOE website one day for a client in Vancouver
and noticed that UBC and a couple of other BC institutions
were on the list. I'm not sure just what their criteria is,
but McGill is a big enough of a university that it could
very well be on the list. I don't remember exactly where
the list is offhand, but if you go to the Financial Aid
website http://www.fafsa.ed.gov its likely there somewhere.
Ask and ye shall receive; knock and ... something like that.

thanks Bryan, since I just commented about Kennedy Western
above.

Here is the link:
http://www.fafsa.ed.gov/fotw0506/fslookup.htm

ChEAr$,
Harlan Lunsford, EA n LA
Wed 23 Feb 2005
 
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