any accountants out there that i can ask a question?

[henche]

I lost my green card when I left the US a few month ago (I made the € after I left)

Could I get in trouble by not reporting?
Is there anyway IRS could find out?

whatever the statute says.

(b) Definition of resident alien and nonresident alien
(1) In general
For purposes of this title (other than subtitle B)—
(A) Resident alien
An alien individual shall be treated as a resident of the United States with respect to any calendar year if (and only if) such individual meets the requirements of clause (i), (ii), or (iii):
(i) Lawfully admitted for permanent residence Such individual is a lawful permanent resident of the United States at any time during such calendar year.

[@Yehuda]

See the code section I cited above.

Why don't you call them and ask why they gave you a 1099

My mistake, it's a form 1098-T. Does that make more sense?

You cannot get education credits if you are a Dependant.
A tuition reduction is different than a scholarship. Which one do you have?

It seems like it's a scholarship based on the form. It's listed in a box called scholarships or grants.

Check yourself if your parents can claim you as a dependent and check yourself if the scholarship reported is taxable.

Parents CAN claim me as a dependent. In the past, my forms were taken care of by my parents' CPA who also filed my taxes. Could it be that he put this scholarship under their taxes even though it has my name on it? I'll probably just end up asking him what he did in the past.

[henche]

My mistake, it's a form 1098-T. Does that make more sense?It seems like it's a scholarship based on the form. It's listed in a box called scholarships or grants.

Yes, that makes quite a difference. 1098-T is money you paid, not money you earned. It is given to you for purposes of claiming a credit or deduction for tuition paid, not for purposes of including in your income.

[@Yehuda]

Yes, that makes quite a difference. 1098-T is money you paid, not money you earned. It is given to you for purposes of claiming a credit or deduction for tuition paid, not for purposes of including in your income.

Hmm, but it doesn't list tuition paid. It's completely blank except the box is checked off that I was at least a half-time student and the scholarship is listed, not how much I ended up paying.

[henche]

Hmm, but it doesn't list tuition paid. It's completely blank except the box is checked off that I was at least a half-time student and the scholarship is listed, not how much I ended up paying.

Did you pay any tuition?

[@Yehuda]

Did you pay any tuition?

Yes.

[henche]

Yes.

Was it for spring 2013? Most schools put spring semester tuition on the previous year's 1098, under regulations which allow them to choose to account for it when billed.

[@Yehuda]

Was it for spring 2013? Most schools put spring semester tuition on the previous year's 1098, under regulations which allow them to choose to account for it when billed.

Aha, so in that case I didn't "pay" any tuition in 2013 but I received a scholarship in 2013? So, I WOULD have to pay taxes on it?

[myb821]

Aha, so in that case I didn't "pay" any tuition in 2013 but I received a scholarship in 2013? So, I WOULD have to pay taxes on it?

no but ince u didnt "pay" tuition in 2013 you cant claim the credit

[henche]

Aha, so in that case I didn't "pay" any tuition in 2013 but I received a scholarship in 2013? So, I WOULD have to pay taxes on it?

This isn't a balance; you're not thinking about this this correct way.  You got a 1098, not a 1099. That means they didn't report any income to you. You don't pay taxes on non-income.

(Also, the info they put on the 1098 doesn't determine whether you get a credit. You need to ask an accountant whether you get the credit based on the circumstances.)

[henche]

no but ince u didnt "pay" tuition in 2013 you cant claim the credit

-1

I'm not 100% sure on this one, but see regs 1.25A-5(e)

[@Yehuda]

This isn't a balance; you're not thinking about this this correct way.  You got a 1098, not a 1099. That means they didn't report any income to you. You don't pay taxes on non-income.

(Also, the info they put on the 1098 doesn't determine whether you get a credit. You need to ask an accountant whether you get the credit based on the circumstances.)

So does the 1098 need to be reported anywhere on my taxes?

[henche]

So does the 1098 need to be reported anywhere on my taxes?

if anything it is a benefit

you really better be getting an accountant to do your taxes. you're looking at the whole system from the wrong angle

[myb821]

if anything it is a benefit

you really better be getting an accountant to do your taxes. you're looking at the whole system from the wrong angle

+1

-1

I'm not 100% sure on this one, but see regs 1.25A-5(e)

but then wouldnt it allow u to double count?

[churnbabychurn]

He is a dependent. Credits are out.

[henche]

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.

[EJB]

Aha, so in that case I didn't "pay" any tuition in 2013 but I received a scholarship in 2013? So, I WOULD have to pay taxes on it?

I was in your situation when I went to college and I was told by an accountant to adjust the amounts to make the scholarship and tuition "payments" on the same periods. Obviously you will need to keep records documenting everything, but as long as you're consistent with your accounting, you should be fine.

[myb821]

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.

Thats really strange, I knew schools could choose which they wanted. However, I assumed that a student could just follow the 1098-t. Which is what I did for me and my wife's taxes. She is currently in school and though technically we paid for the spring semester in January the school used billing cycle so the whole bill was technically in 2013. You are correct it probably would be better to do it as payment date bc then we would be able to claim it for an extra year. hmmmmmmmm

[henche]

Thats really strange, I knew schools could choose which they wanted. However, I assumed that a student could just follow the 1098-t. Which is what I did for me and my wife's taxes. She is currently in school and though technically we paid for the spring semester in January the school used billing cycle so the whole bill was technically in 2013. You are correct it probably would be better to do it as payment date bc then we would be able to claim it for an extra year. hmmmmmmmm

Right? It's weird.

[@Yehuda]

He is a dependent. Credits are out.

Right, so then does it even need to be reported? I should give it to my parents to report since they can get the credit.

if anything it is a benefit

you really better be getting an accountant to do your taxes. you're looking at the whole system from the wrong angle

Yeah, I'm just trying it myself before going to my accountant.

I was in your situation when I went to college and I was told by an accountant to adjust the amounts to make the scholarship and tuition "payments" on the same periods. Obviously you will need to keep records documenting everything, but as long as you're consistent with your accounting, you should be fine.

Gotcha. Thanks for the info.