What fees are included in qualified educational expenses? Detail information about your qualifying charges & scholarship will also be available. You will need to Grant Consent to receive on-line access or print forms electronically. Select the "View 1098-T" link on the dropped down menu under Finances on their Student Center. Students can print an electronic 1098T form from their Student Center. Tax Benefits for Education (IRS Publication 970) įrequently Asked Questions: Form 1098T On-Line 1098-T Forms.Tax Benefits for Education: Information Center.
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If you have questions about how to compute an education tax credit, consult your tax professional or refer to IRS Publication 970.įor more information on eligibility rules, see: You should use the information on the Form 1098-T in conjunction with your own payment records to complete your individual tax return. Claiming Education Credits on Your Individual Tax Return The Form 1098-T should give you other information for that institution, such as adjustments made for prior years, the amount of scholarships or grants, reimbursements, or refunds, and whether the student was enrolled at least half-time or was a graduate student. In most cases, the student should receive Form 1098-T from the eligible educational institution by January 31, 2022. When figuring an education credit or the tuition and fees deduction, use only the amounts you paid and are deemed to have paid during the tax year for qualified education expenses. Important Information Regarding your 1098-T The information being reported to the IRS verifies your enrollment with regards to certain eligibility criteria. However, the enrollment information by itself does not establish eligibility for either credit or deduction. This form can also provide information for other Tuition and Fees Deduction.
IRS Form 1098-T, Tuition Statement provides information from educational institutions to students which may be of use in determining a student's eligibility for two tax credits, the American Opportunity Credit and the Lifetime Learning Credit. Attention: The Electronic 1098-T Tuition Statement for calendar year 2021 is now available to view and print from your account at MyHumboldt
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