Guide To Tax Form 1098-T: 1098 T Form – Student Financial Services

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Form 1098-T is provided by eligible educational institutions to students who paid qualified educational expenses, offering tax benefits related to education.

The IRS requires schools to send Form 1098-T to students by January 31 and file a copy with the IRS by February 28 for reportable transactions.

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Common mistakes students make on Form 1098-T include not reporting all qualified expenses, scholarships, missing deadlines, and providing incorrect TIN numbers.

Educational institutions are responsible for filing Form 1098-T, while students must fill out and submit the form by February 28.

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Form 1098-T helps students claim tax credits for educational expenses, emphasizing eligibility for federal student aid programs and specific deadlines for form submission.