Form 1098-T FAQs

Frequently Asked Questions (FAQs) for Form 1098-T

  1. What is Form 1098-T? Form 1098-T, Tuition Statement, is a tax form provided by educational institutions to report information about a student's qualified tuition payments and related expenses.
  2. Who receives a Form 1098-T? Educational institutions provide Form 1098-T to students who paid qualified tuition and related expenses during the tax year. This form is typically sent to both the student and the IRS.
  3. What information is included on Form 1098-T? Form 1098-T includes the amount of qualified tuition and related expenses paid, as well as any scholarships or grants received by the student. It also indicates whether the student is enrolled at least half-time.
  4. How is the information on Form 1098-T used for tax purposes? The information on Form 1098-T assists eligible taxpayers in claiming education-related tax credits, such as the American Opportunity Credit or the Lifetime Learning Credit.
  5. What are qualified tuition and related expenses? Qualified tuition and related expenses generally include tuition and fees required for enrollment, but not expenses like room and board. Refer to IRS guidelines or consult a tax professional for a detailed list.
  6. Can I claim a tax credit if I did not receive a Form 1098-T? Yes, you may still be eligible for education-related tax credits even if you did not receive Form 1098-T. Keep records of your tuition payments and consult with a tax professional for guidance.
  7. Can I receive a Form 1098-T if I am an international student? Educational institutions typically provide Form 1098-T to U.S. residents for tax purposes. International students may not receive this form, but they should keep records of their tuition payments for potential tax benefits.
  8. What is the significance of Box 1 and Box 5 on Form 1098-T? Box 1 reports the total payments received for qualified tuition and related expenses, while Box 5 indicates the amount of scholarships or grants administered and processed during the tax year.
  9. How do I report the information from Form 1098-T on my tax return? Transfer the relevant information from Form 1098-T to the appropriate sections of your federal tax return, such as IRS Form 8863 for education credits. Consult the IRS instructions or a tax professional for specific guidance.
  10. What should I do if there is an error on my Form 1098-T? Contact the Office of Student Accounts at 267-341-3202 or  to address any discrepancies or errors on your Form 1098-T. Ensure that the information is accurate before using it for tax purposes.