1098-t Form 2023-2024

1098-t Form: What You Should Know

Who should complete Form 1098-T? | IRS You need to fill out Form 1098-T for educational expenses such as tuition, books and fees. If you're in a non-federal student loan program at any college, this should apply only to the student(s) enrolled in your program. Can school employees pay Form 1098-T by check? | IRS Yes. It requires the signature of someone who is authorized to sign for the school, such as a member of the faculty or a school representative. The signature of that individual is a requirement for a student to be eligible for Form 1098-T. Must the institution complete the 1098-T form? | IRS Yes. The institution must complete the 1098-T form. See the list of eligible educational institutions here. Please note that a school that is not a public or private non-profit institution cannot be an educational institution with respect to Forms 1098-T; therefore, the institution must report student interest (including tuition, fees and related expenses) on Form 1098-T. Is my university eligible for a Tuition Statement because of a parent's or guardian's eligible student status? | IRS No. Universities that qualify as college-level institutions as defined by the Institute of International Education (DIE), can report your tuition and fees as education assistance. Universities that qualify as post-secondary institutions are not considered as qualifying colleges under the income-based repayment plan. Why is my Form 1098-T reporting tuition expenses for students under the age of 26? | IRS We've addressed this issue previously: The 1098-T is not a student loan repayment program that is available to you or to a student with an eligible student status, as defined by SERRA. The income-driven repayment program is only available to other eligible students (whether the student is a student of an eligible student) and to parents and guardians of eligible students. The 1098-T only provides information regarding student tuition, not student earnings. Does my Form 1098-E need to be filed? | IRS No. You must file the 1098-E on or before February 10, 2023.

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