Form 1098-T is an IRS tuition statement issued by colleges or universities to students, detailing qualified education expenses, scholarships, and adjustments, helping taxpayers claim education-related credits accurately.
Don’t Miss Form 1098-T Deadline – 31 March 2026 Submission Guide. Call +1-866-513-4656 for expert support & guidance.
Paying for higher education is a significant investment. The IRS recognizes this and provides tax credits to ease the financial burden. Form 1098-T is the document that makes claiming these credits possible by summarizing tuition, scholarships, and grants for the year.
Many students and parents overlook the importance of this form, thinking it’s just another piece of paperwork. In fact, it’s a vital tool for ensuring you get the maximum benefits allowed by law while avoiding IRS errors.
Table of Contents
What Is Form 1098-T?
Form 1098-T is a tuition statement sent by schools to students. It records qualified tuition and related expenses, scholarships, grants, and any adjustments from previous years. The form is necessary for claiming education credits like the American Opportunity Credit or Lifetime Learning Credit.
Who Receives Form 1098-T?
Students enrolled at accredited educational institutions typically receive Form 1098-T. Parents claiming education credits for dependents also use the information on the form. Schools must send it electronically or by mail before the tax filing deadline.
If you did not receive the form, contact your school’s financial office for a corrected copy to ensure you can accurately claim credits.
How to Use Form 1098-T?
Form 1098-T contains several boxes with important information:
Box 1: Payments received for qualified tuition and related expenses
Box 4: Adjustments to previous years’ tuition
Box 5: Scholarships or grants received
Box 7: Check if reporting method changed
Use this data to calculate eligible education expenses, subtract scholarships, and claim credits accurately on your tax return. Professional guidance is recommended if you are unsure; call +1-866-513-4656 for support.
IRS Trusted Resources
For accuracy and reliability, use these 4 IRS resources:
Common Mistakes to Avoid
Students and parents often make errors with Form 1098-T. Top 4 mistakes include:
Incorrectly reporting tuition or scholarships
Ignoring adjustments from prior years
Mixing qualified and non-qualified expenses
Filing without verifying the form first
Filing Tips
Keep tuition receipts and payment records for reference
Confirm scholarship and grant amounts match Form 1098-T
Use IRS instructions or consult a professional for guidance
Call +1-866-513-4656 for expert assistance
Conclusion
Form 1098-T is a key document for claiming education credits. Understanding how to read and use it accurately ensures maximum benefits and avoids IRS mistakes.
Always verify the form with your records, use trusted IRS resources, and seek professional guidance if needed. For expert help, contact +1-866-513-4656.
Frequently Asked Questions
1.Who receives Form 1098-T?
Eligible students at accredited schools and their parents when claiming education credits.
2. Can I claim education credits without Form 1098-T?
Yes, if you maintain accurate records of tuition and scholarships.
3. What should I do if the form has errors?
Contact your school immediately for corrections and consult a tax professional if necessary.
4. Where can I get help with Form 1098-T?
IRS guidance or professional assistance at +1-866-513-4656 can simplify filing and ensure accuracy.
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