Except as otherwise provided by the Secretary, no credit shall be allowed under this section unless the taxpayer receives a statement furnished under section 6050S(d) which contains all of the information required by paragraph (2) thereof
use a substitute Form 1098-T if the substitute form complies with applicable revenue procedures relating to substitute forms (see § 601.601(d)(2) of this chapter).
gmhksgp wrote:Technically, I suppose you can but that means you will take on a lot of responsibility and risk, especially given you are subject to due diligence for AOTC.
§25A(g)(8) stipulates that:Except as otherwise provided by the Secretary, no credit shall be allowed under this section unless the taxpayer receives a statement furnished under section 6050S(d) which contains all of the information required by paragraph (2) thereof
Although §§1.6050S-1 does not provide any exception for foreign eligible institutions to not file a Form 1098-T, subsection (b)(2) permits institutions to:use a substitute Form 1098-T if the substitute form complies with applicable revenue procedures relating to substitute forms (see § 601.601(d)(2) of this chapter).
Since the reporting requirements are quite onerous and specific, it is unlikely that the foreign university would understand the parameters sufficiently to issue an accurate and complete statement that could be used for US tax purpose assuming they agree to issue one (and that is a big IF), short of you auditing all the details and documents.
TaxItRight wrote:Is he allowed to claim AOC on the education expenses paid to the school in the US since he has the Form 1098-T. And then he claims tuition and fee deduction (Form 1040 line 34) on the education expenses paid to the oversea school? He does have a letter from the oversea school to certify the amount that he has paid to them as tuition (but no Form 1098-T) and I think the tuition and fee deduction does not strictly require a Form 1098-T like the AOC.
gmhksgp wrote:TaxItRight wrote:Is he allowed to claim AOC on the education expenses paid to the school in the US since he has the Form 1098-T. And then he claims tuition and fee deduction (Form 1040 line 34) on the education expenses paid to the oversea school? He does have a letter from the oversea school to certify the amount that he has paid to them as tuition (but no Form 1098-T) and I think the tuition and fee deduction does not strictly require a Form 1098-T like the AOC.
Is he allowed to claim AOC on the education expenses paid to the school in the US since he has the Form 1098-T. And then he claims tuition and fee deduction - No, you can't. See §222(c)(2).
I think the tuition and fee deduction does not strictly require a Form 1098-T like the AOC - That is not correct. See §222(d)(6)(A).
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