1098t effects two years

Jan 31, 2012 1 Replies
2010 Claimed education credit for costs paid in 2010. Graduated in the December. Owed nothing. Received scholarship for 2010 in 2011 and received 1098T for that amount.

With no education costs this year it looks like we have to amend 2010 return to reduce education costs by this scholarship amount. Is this correct? Painful.


This is a "recapture" situation. See the appropriate chapter in Pub

970 for how to proceed.

Phil Marti VITA/TCE Volunteer Clarksburg, MD

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