but then wouldnt it allow u to double count?
right, so this is a weird situation set up by these regs, and it's confusing me. (I looked into it recently for my personal taxes)
It looks like the schools get to choose between a billing cycle and a payment cycle, but the students have to do everything on a payment cycle. Which is highly confusing for the students, and I'm betting missed by most accountants doing this stuff.
Yireh li that if you counted it last year accidentally, you'd want to amend last years and put it in this year. This will often be better for you anyway, since there are annual limitations on the credits/deductions.
But like I say, I don't really get this 100% because it seems to weird.