1098-T

What is Form 1098-T?

Form 1098-T, also known as the Tuition Statement, is a crucial tax form sent by educational institutions to students and the Internal Revenue Service (IRS).

It provides details about the amounts paid for qualified tuition and related expenses, which are essential for calculating potential education tax credits.

Who needs to file Form 1098-T?

• Educational institutions (colleges, universities, etc.) issue Form 1098-T to students who meet the criteria for qualified tuition and related expenses.
• It's essential for accurate tax reporting.