I received my bachelors degree in May 2005, and only attended classes full time in the spring semester. I consolidated my loans and received the 1098-E for the interest on the loan. The 1098-T form from the college left box 1 empty and box 2 at .00 and acknowleded in box 8 that I was at least half-time student. The loans were dispersed Jan 19, 2005. Why did my Institution not report these payments?

Zip Code: elisherman@yahoo.com

The 1099-T can be pretty misleading, since it usually doesn't incude a heck of a lot of information on it. My understanding is that the education institution only needs to indicate that you were enrolled during the year, and whether you were at least a half-time student.

If you got that form, you're eligible to claim the Lifetime Learning credit of up to $2,000 based on the tuition paid during the calendar year. The allowable credit can offset a portion of the taxes you owe on the income you earned since graduating.

Check out IRS Publication 970, or Form 8863 (along with instructions), available at www.irs.gov.

Zip Code: cpa@mdtaxes.com