- Joined
- Mar 14, 2005
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For the past several years I have always used the Lifetime Learning Credit to get a big chunk of my taxes back each year and was very surprised when I got my last 1098-T form from Pacificu U. stating that I had paid no tuition in 2007. How can that be since my last Spring semester took place in 2007?
The really bad part is that I cannot claim a Lifetime Learning Credit because I apparently had no tuition expenses. I quick call to Pacific revealed that for some stupid reason they actually bill for the Spring semester in Nov or Dec of the year before.
I respectfully stated that the tax credit is far more beneficial at the back-end of the four years (when you actually make some money), then at the front-end which is the way they have it set up.
Any other recent grads have this experience and now end up owing taxes instead of getting a refund?
The really bad part is that I cannot claim a Lifetime Learning Credit because I apparently had no tuition expenses. I quick call to Pacific revealed that for some stupid reason they actually bill for the Spring semester in Nov or Dec of the year before.
I respectfully stated that the tax credit is far more beneficial at the back-end of the four years (when you actually make some money), then at the front-end which is the way they have it set up.
Any other recent grads have this experience and now end up owing taxes instead of getting a refund?