Everything You Need to Know About Form 1098-T

What is Form 1098-T?
Form 1098-T provides students with information about tuition and related expenses. It is used to claim education credits on a federal tax return.

Who Should File Form 1098-T?

• Colleges, universities, and eligible institutions that receive tuition payments.
• Students who paid qualified educational expenses and want to claim tax credits.

When to File Form 1098-T?

• Schools must send Form 1098-T to students by January 31 each year.
• The IRS copy must also be filed by February 28 (March 31 if e-filed).

Key Information Required

• Student’s name, address, and SSN.
• School’s name, address, and EIN.
• Qualified tuition and related expenses.
• Scholarships and grants received.
• Adjustments to prior years, if applicable.

Why is Form 1098-T Important?

• Helps students or parents claim education tax credits.
• Documents tuition and scholarships for accurate tax reporting.
• Required for eligibility of certain federal education credits.

How to File Form 1098-T

• Schools prepare the form and send copies to students and the IRS.
• Students use the form’s information when completing their tax return.

Processing Time
Form 1098-T is provided annually; students typically receive it in January.