Will paying my Spring semester balance in December have any effect on the person claiming me on their taxes for 2013?
The American Recovery and Reinvestment Act of 2009 (ARRA) provides tax credits (American Opportunity Credit (AOC) and Lifetime Learning Credit) which may be available to students, and taxpayers claiming students as dependents on their federal income tax returns for certain qualifying educational costs.
Although College personnel are not in a position to offer specific tax advice, it is suggested that any questions regarding the applicability of these credits as well as the appropriate timing to make qualified tuition expense payments for the Spring 2014 semester in your particular situation be directed to your tax advisor prior to January 1, 2014. Reviewing the www.irs.gov website may also answer some of the questions you may have about the tax credits.
Who can claim my education credit?
You, or the person who can claim you as a dependent, may be able to claim an education credit.
When will the 1098T form be mailed to my home address?
The 1098-T forms are mailed to your home address in January.
Can I access my 1098T online?
You can also access your 1098T online by going to www.1098-t.com. If you have not already done so, you will need to create a user ID and password to access this information.