The products you should use to complete Form 1098-T are the 2009 General and W-2G and the 2009 Instructions for Forms 1098-E and 1098-T. Form 4 Adjustments made for a prior year City state and ZIP code 9 Check if a graduate 8 Check if at least student half-time student 1098-T Cat. No. 25087J Do Not Cut or Separate Forms on This Page 5 Scholarships or grants Copy A Internal Revenue Service Center File with Form 1096. For Privacy Act and 7 Check this box if the Paperwork Reduction amount in box 1...or 2 Act Notice see the includes amounts for an academic period 2009 General beginning January Instructions for March 2010 Forms 1099 1098 10 Ins. contract reimb. Attention This form is provided for informational purposes only. Copy A appears in red similar to the official IRS form* Do not file copy A downloaded from this website. The official printed version of this IRS form is scannable but the online version of it printed from this website is not. A penalty of 50 per information return may...be imposed for filing forms that cannot be scanned* To order official IRS forms call 1-800-TAX-FORM 1-800-829-3676 or Order Information Returns and Employer Returns Online and we ll mail you the scannable forms and other products. See IRS Publications 1141 1167 1179 and other IRS resources for information about printing these tax forms. VOID CORRECTED FILER S name street address city state ZIP code and telephone number 1 Payments received for qualified tuition and related expenses OMB No*...1545-1574 2 Amounts billed for FILER S federal identification no. Form 4 Adjustments made for a prior year City state and ZIP code 9 Check if a graduate 8 Check if at least student half-time student 1098-T Cat* No* 25087J Do Not Cut or Separate Forms on This Page 5 Scholarships or grants Copy A Internal Revenue Service Center File with Form 1096. For Privacy Act and 7 Check this box if the Paperwork Reduction amount in box 1 or 2 Act Notice see the includes amounts for an academic period 2009...General beginning January Instructions for March 2010 Forms 1099 1098 10 Ins* contract reimb. /refund 3921 3922 5498 and W-2G* 6 Adjustments to Street address including apt* no* Service Provider/Acct* No* see instr* STUDENT S social security number 3 Check if you have changed your reporting method for 2009 STUDENT S name Tuition Statement Department of the Treasury - Internal Revenue Service has changed its reporting method for 2009 Copy B For Student 7 Checked if the amount in box 1 or 2...includes amounts for an keep for your records 9 Checked if a graduate student This is important tax information and is being furnished to the Service. Instructions for Student An eligible educational institution such as a college or university in which you are enrolled and an insurer who makes reimbursements or refunds of qualified tuition and related expenses to you must furnish this statement to you. You or the person who can claim you as a dependent may be able to claim an education credit on...Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid in 2009.
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Instructions and Help about IRS 1098-T
How to edit IRS 1098-T
How to fill out IRS 1098-T
Instructions and Help about IRS 1098-T
How to edit IRS 1098-T
To edit IRS 1098-T, you can use form editing software like pdfFiller that allows you to fill in and make necessary changes to the document. Enter the required information in the appropriate sections, ensuring accuracy to meet IRS standards. After completing the form, review all changes and use the platform's tools to save or print the updated form.
How to fill out IRS 1098-T
Filling out IRS 1098-T involves several key steps. Start by gathering necessary personal information, such as your taxpayer identification number (TIN) and details about qualified tuition and related expenses. Next, complete the form by entering the tuition amounts and any scholarships or grants awarded. It is important to follow the guidelines provided by the IRS to ensure that all reported figures are accurate and appropriately categorized.
About IRS 1098-T 2009 previous version
What is IRS 1098-T?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What payments and purchases are reported?
How many copies of the form should I complete?
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
About IRS 1098-T 2009 previous version
What is IRS 1098-T?
IRS 1098-T is an information return used by eligible educational institutions to report payments received for qualified tuition and related expenses. This form is also utilized to document scholarships and grants awarded to students. The data on the 1098-T is critical for both students and the IRS to verify eligibility for education-related tax credits.
What is the purpose of this form?
The purpose of IRS 1098-T is to provide students and the IRS with information regarding payments made for qualified tuition and related expenses. The form helps students calculate their eligibility for education tax credits, such as the American Opportunity Credit or the Lifetime Learning Credit. Additionally, educational institutions use this form to ensure compliance with federal tax reporting requirements.
Who needs the form?
IRS 1098-T must be issued by eligible educational institutions to any student who has made payments for qualified tuition and related expenses during the tax year. Additionally, students who received scholarships or grants need to receive the form, which includes information pertinent to their tax obligations. Parents or guardians claiming a student as a dependent may also benefit from this information when filing their own taxes.
When am I exempt from filling out this form?
Some individuals may be exempt from filing IRS 1098-T if their educational institution did not receive payments for qualified tuition for the tax year. Institutions may also be exempt if the student is enrolled in courses that provide no credit, such as non-degree programs. Additionally, certain international students may not require a 1098-T based on their residency status.
Components of the form
The IRS 1098-T consists of multiple boxes that report different types of information. Box 1 reports payments received for qualified tuition and related expenses. Box 2, which was temporarily removed, used to reflect amounts billed for those expenses. Box 5 details scholarships and grants that were awarded to students, which may reduce their eligibility for tax credits.
What payments and purchases are reported?
IRS 1098-T reports qualified tuition and related expenses paid during the tax year. These typically include tuition fees, enrollment fees, and certain course-related expenses, such as textbooks and supplies. It is essential to note that not all costs qualify; for instance, personal expenses and transportation costs are not reportable on the 1098-T.
How many copies of the form should I complete?
Generally, you do not need to complete multiple copies of IRS 1098-T if you are the recipient. The educational institution will prepare the appropriate copies and send them out to the relevant parties, including the student and the IRS. Always ensure to retain a copy for your records when you receive it.
What are the penalties for not issuing the form?
Failing to issue IRS 1098-T can result in penalties for the educational institution. These penalties can range from $50 for each form not filed correctly to more significant amounts for intentional disregard of filing requirements. It is crucial for institutions to comply to avoid financial repercussions.
What information do you need when you file the form?
When filing IRS 1098-T, you need various pieces of information, including your TIN, the amount of tuition paid, scholarships and grants received, and academic institution's information. Ensuring accurate reporting of these elements helps facilitate processing and prevents errors in tax return submissions.
Is the form accompanied by other forms?
IRS 1098-T may not necessarily be accompanied by other forms, but students should be aware that if they are claiming education tax credits, they might need to complete Form 8863 to calculate and substantiate those credits. Proper documentation is crucial for ensuring compliance with IRS regulations.
Where do I send the form?
You do not send IRS 1098-T directly to the IRS; instead, you retain it for your records when filing your tax returns. Educational institutions must send their copies to the IRS by the designated deadline. Students should consult IRS guidelines to ensure they understand how to use the information for their tax filings.
FAQ about IRS 1098-T
What should I do if I find an error in my submitted 2009 1098 t form?
If you discover an error in your 2009 1098 t form after submission, you will need to file an amended return using a corrected form. Make sure to indicate that it is a correction, provide accurate information, and submit it to the relevant tax authority as soon as possible.
How can I verify the status of my filed 2009 1098 t form?
To verify the status of your filed 2009 1098 t form, check directly with the IRS or your tax preparation software. Additionally, some software platforms offer tracking options that allow you to see when your form has been received and processed.
Are e-signatures accepted for the 2009 1098 t form?
E-signatures are generally acceptable for the 2009 1098 t form unless specific instructions state otherwise. Always verify the acceptance criteria for electronic signatures from the IRS or the software you are using to file.
What should I do if I receive a notice regarding my 2009 1098 t form?
If you receive a notice related to your 2009 1098 t form, first carefully read the notice for details on the issue. Prepare any requested documentation and respond promptly. If necessary, consult a tax professional for assistance.
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