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Get the free IRS Form 1098-T - sfs fullerton

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This document provides information about the payments and financial assistance relevant for tax purposes regarding qualified tuition and related expenses for students at California State University,
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How to fill out irs form 1098-t

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How to fill out IRS Form 1098-T

01
Obtain a copy of IRS Form 1098-T from the IRS website or your educational institution.
02
Fill in the student's identifying information, including name, address, and Social Security number.
03
Provide the school's name, address, and Employer Identification Number (EIN).
04
Enter the amount billed for qualified tuition and related expenses in Box 1.
05
If applicable, enter any scholarships or grants received in Box 5.
06
Fill out any additional relevant boxes, such as textbooks or other educational materials in Box 9.
07
Review all information for accuracy.
08
Submit the completed form by the deadline set by the IRS.

Who needs IRS Form 1098-T?

01
Students who qualify for education-related tax credits or deductions.
02
Educational institutions that provide qualified tuition and related expenses to students.
03
Taxpayers who are eligible for the American Opportunity Credit or the Lifetime Learning Credit.
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IRS Form 1098-T is a tax form used by eligible educational institutions to report information about their students and the qualified tuition and related expenses paid during the tax year.
Eligible educational institutions, such as colleges and universities, that receive payments of qualified tuition and related expenses are required to file IRS Form 1098-T for each student they enroll and for whom they receive payments.
To fill out IRS Form 1098-T, institutions need to provide their information, the student's information, and report the amounts of qualified tuition and fees that were billed, scholarships and grants received, and any adjustments made. Specific instructions from the IRS should be followed.
The purpose of IRS Form 1098-T is to help students determine their eligibility for education tax credits, such as the American Opportunity Credit and the Lifetime Learning Credit, by providing necessary information about their tuition and related expenses.
The information that must be reported on IRS Form 1098-T includes the institution's name, address, and EIN, the student's name, address, and taxpayer identification number, amounts billed for qualified tuition and related expenses, scholarships and grants received, and any adjustments from prior years.
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