Problem

What is a 1098-T form? Should I have received one?

Solution

The 1098-T is a tuition statement furnished by eligible educational institutions that reports qualified tuition and related expenses in accordance with IRS regulations. It is used to determine a student's eligibility for the American Opportunity Tax Credit and Lifetime Learning Credit. For more information on the 1098-T form and education credits, please visit https://www.irs.gov/credits-deductions/individuals/education-credits.

You may receive a 1098-T if you incurred qualified educational expenses during the prior calendar year. Please consult your tax advisor for any guidance on being able to claim those charges as an educational deduction.
Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships (or grants) are exempted from having to use a 1098-T on their personal income tax return.
In most cases, if you received a Federal Pell Grant refund during the calendar year, you won’t have a 1098-T form as your tuition/fees were entirely paid using a grant. If you’re uncertain, please verify this information with your tax professional.

For additional information regarding the IRS guidelines, please visit Tuition Statement.

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