Log in and click "GET FORM" to open a blank 1098-T in our versatile PDF editor, already set up and ready for you.
Use our wide range of editing tools to fill in all the necessary details. Ensure every detail is captured correctly, reflecting the student's educational expenses and scholarships.
Once you've filled out the form, save your progress and download the form. It should be formatted correctly and ready for submission according to IRS requirements.
The 1098-T tax form, commonly known as the "Tuition Statement", is a vital document that colleges, universities, and other eligible educational institutions are mandated to issue. This form plays a crucial role in the tax reporting process, detailing payments received and amounts billed for qualified tuition and related educational expenses.
It also serves as a key document for students, enabling them to claim education tax credits, such as the American Opportunity Credit and the Lifetime Learning Credit. The 1098-T form reports specific expenses, such as tuition fees and charges for necessary course materials. However, it does not include personal expenses like room and board, insurance, or transportation.
The responsibility of filing the 1098-T form primarily lies with educational institutions, not the students. Colleges, universities, and other eligible educational entities are required to file this form for each student who pays for qualified educational expenses. Students who have paid tuition or related expenses in the past tax year need to file a copy of the 1098-T form issued by their educational institution. This includes most college and university students in the United States.
Open PDF Master and select the blank 1098-T form.
Enter the student's name, address, and identification number.
Fill in your institution’s name, address, and federal ID number.
In Box 1, input total payments received for qualified tuition and related expenses.
Report any scholarships or grants in Box 5.
Include adjustments from prior years in Boxes 4 and 6.
Fill in Boxes 7, 8, and 9 for academic period, student status, and level of study.
Thoroughly review the 1098-T form and make any necessary corrections.
Save the completed form and distribute it to the student; file with the IRS as required.
The 1098-T IRS form is more than just a tax document; it's a critical piece in the financial relationship between students and educational institutions. Here's why it's significant for both parties:
For colleges and universities:
For students:
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