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this is my first time doing this and usually my tax forms consist of two pieces of paper. anywho, taxact is asking me about tuition/expenses paid that qualify for deduction. i have here in front of me form 1098-t that has a number in box 2 (amounts billed for qualified tuition and related expenses). so do i plug that number into taxact? or not? cuz i haven't actually paid anything. i have stafford loans, so my bank paid my tuition. i'm confused.
I'm pretty sure since it is a loan and not a grant that you can use it. You do have to pay the loan back so you therefore are paying the tuition, just in a deferred sense.
Last Edit: Feb 21, 2008 21:40:30 GMT -5 by troo - Back to Top
thanks. the other thing that concerns me is box 1 (total payments received from any source) is blank. ???
edit: i think what happened was... i was billed in 2007, but the tuition for fall '07 semester wasn't paid until january. so then i don't use this number, because it will be on 2008's 1098-T, correct?
