No, you don’t have to report your 1098-T, not unless you want to claim an education credit. However if your grant/scholarship amount (box 5) is more than your tuition (box 1/box 2) you may want to report it because excess scholarship money may be treated as taxable income on your return.

What is a 1098-T tax form used for?

A form 1098-T, Tuition Statement, is used to help figure education credits (and potentially, the tuition and fees deduction) for qualified tuition and related expenses paid during the tax year. The Lifetime Learning Credit offers up to $2,000 for qualified education expenses paid for all eligible students per return.

How do I get a copy of my 1098-T form?

Current 1098-T

1. Students can retrieve their 1098-T via the Student Portal.
2. To retrieve, log into the Student Portal.
3. The Filer’s Federal Identification Number should already be populated in the form.
4. The 1098-T is typically made available for students in the by January 31st.

What happens if I don’t put my 1098-T on my taxes?

If you forgot to enter your 1098-T and are not going to claim the education credit AND did not have taxable scholarship income (scholarships that exceeded the tuition paid) you do not have to amend your tax return. Keep a copy of it with your tax records for at least three years.

Does 1098-T increase refund?

Your 1098-T may qualify you for education-related tax benefits like the American Opportunity Credit, Lifetime Learning Credit, or the Tuition and Fees Deduction. If the credit amount exceeds the amount of tax you owe, you can receive up to $1,000 of the credit as a refund.

Who gets 1098-T?

Who gets the 1098-T Form? Schools must make Form 1098-T available to any student who paid, in the previous tax year, “qualified educational expenses”. Tuition, any fees that are required for enrollment, and course materials the student was required to buy from the school are qualified expenses.

Can I see my 1098-T Online?

You can access your 1098-T form by visiting the Tab Service 1098t website. UC has contracted with Tab Service to electronically produce your 1098-T form.

Do I get a 1098-T form if I get financial aid?

A: For Form 1098-T purposes, fellowships are considered financial aid and will be reported in Box 5 as a (scholarships, grants, fellowships). Form 1098-T reports activity occurring in the calendar year….Form 1098-T Contact Information.

Who claims 1098-T?

Who issues a 1098-T? Educational institutions that are eligible to participate in the Department of Education’s student aid programs can issue Form 1098-T, including colleges, universities, vocational schools, and other eligible post-secondary education institutions.

Who enters 1098-T parent or student?

If the parent is claiming the student as a dependent on their (the parents) income tax return, then the parent enters the 1098-T Tuition form on their (the parents) income tax return.

What is a 1098 T form used for?

About Form 1098-T, Tuition Statement Eligible educational institutions file Form 1098-T for each student they enroll and for whom a reportable transaction is made. Insurers file this form for each individual to whom they made reimbursements or refunds of qualified tuition and related expenses.

What is boxbox 1 of IRS Form 1098-T?

BOX 1 of IRS Form 1098-T reports the qualified tuition and related expenses paid during the calendar year. Sometimes this is referred to as qualifed education expenses, although the two are not always interchangeable. Consult a tax professional for explanation.

Where can I get a copy of my 1098 form?

To ease statement furnishing requirements, Copies B and C of Forms 1098-E and 1098-T are fillable online in a PDF format, available at or You can complete these copies online for furnishing statements to recipients and for retaining in your own files.

Can I claim qualified tuition on my 1098-T?

You may include qualified tuition and related expenses that are not reported on IRS Form 1098-T when claiming one of the related credits if you can substantiate payment of these expenses.” Please note that the timing of each charge and payment/scholarship are important regarding which year they are reported in.