Future developments. For the latest information about developments related to Form 1098-T and its instructions such as legislation enacted after they were published go to Copy C For Filer Paperwork Reduction Act Notice see To complete Form 1098-T use Returns and the 2016 Instructions for Forms 1098-E and 1098-T. Box 2. Reserved. Box 3. Shows whether your institution changed its method of reporting for 2016. It has changed its method of reporting if the method payments received used for 2016 is...different than the reporting method used for 2015 amounts billed. You should be aware of this change in figuring your education credits. Box 4. Shows any adjustment made for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. VOID CORRECTED FILER S name street address city or town state or province country ZIP or 1 Payments received for qualified tuition and related foreign postal code and telephone number expenses OMB No. 1545-1574 Tuition...Statement Form 1098-T FILER S federal identification no. Copy A STUDENT S taxpayer identification no. 3 Check if you have changed your reporting method for 2016 For Internal Revenue Service Center 4 Adjustments made for a prior year Street address including apt. no. City or town state or province country and ZIP or foreign postal code 5 Scholarships or grants STUDENT S name File with Form 1096. Attention Copy A of this form is provided for informational purposes only. Copy A appears in red...similar to the official IRS form* The official printed version of Copy A of this IRS form is scannable but the online version of it printed from this website is not. Do not print and file copy A downloaded from this website a penalty may be imposed for filing with the IRS information return forms that can t be scanned* See part O in the current General Instructions for Certain Information Returns available at www*irs*gov/form1099 for more information about penalties. Please note that Copy B and...other copies of this form which appear in black may be downloaded and printed and used to satisfy the requirement to provide the information to the recipient. To order official IRS information returns which include a scannable Copy A for filing with the IRS and all other applicable copies of the form visit www. IRS*gov/orderforms. Click on Employer and Information Returns and we ll mail you the forms you request and their instructions as well as any publications you may order. Electronically...FIRE system visit www. IRS*gov/FIRE or the IRS Affordable Care Act See IRS Publications 1141 1167 and 1179 for more information about printing these tax forms. VOID CORRECTED FILER S name street address city or town state or province country ZIP or 1 Payments received for qualified tuition and related foreign postal code and telephone number expenses OMB No* 1545-1574 Tuition Statement Form 1098-T FILER S federal identification no. Copy A STUDENT S taxpayer identification no. 3 Check if you have...changed your reporting method for 2016 For Internal Revenue Service Center 4 Adjustments made for a prior year Street address including apt* no* City or town state or province country and ZIP or foreign postal code 5 Scholarships or grants STUDENT S name File with Form 1096.
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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 the IRS 1098-T tax form, consider using pdfFiller. This platform allows you to easily input or alter information as needed. Simply upload your scanned form or use a blank template to make necessary adjustments. Ensure that all details are accurate before submitting to the IRS.
How to fill out IRS 1098-T
Filling out the IRS 1098-T involves following a structured process. First, gather all relevant information, including your name, address, and the educational institution's details. Next, input qualifying tuition and fees in the appropriate sections. Lastly, review the completed form for accuracy to avoid errors during submission.
About IRS 1098-T 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 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 previous version
What is IRS 1098-T?
IRS 1098-T, officially known as the Tuition Statement, is a tax form used to report qualified tuition and related expenses paid during the tax year. Educational institutions file this form to provide information that can help students and their families determine eligibility for education-related tax credits.
What is the purpose of this form?
The primary purpose of the IRS 1098-T is to inform students and the IRS about the amounts paid for tuition and related fees. This information is valuable for individuals claiming educational credits such as the American Opportunity Credit or the Lifetime Learning Credit, which can significantly reduce tax liability.
Who needs the form?
Students who paid qualifying tuition and fees to a higher education institution during the year typically receive IRS 1098-T. Additionally, educational institutions that received payments for enrolled students must issue this form. Both parties use it to ensure accurate reporting of education expenses and related tax benefits.
When am I exempt from filling out this form?
Exemptions from filling out IRS 1098-T include cases where a student is enrolled exclusively in non-credit courses or when the institution is not required to report. Additionally, if the student's tuition is entirely covered by scholarships or grants, the necessity for this form may be eliminated.
Components of the form
The IRS 1098-T is structured with several key components, including the name and address of the educational institution, student details, and amounts paid for qualified tuition and related expenses. The form also indicates any scholarships or grants received, which can impact tax calculations.
What are the penalties for not issuing the form?
Educational institutions that fail to issue IRS 1098-T to eligible students may face penalties. The IRS generally imposes fines for late filings or for not providing necessary information, which can range from $50 to $270 per form, depending on how delayed the submission is. Institutions must strive to comply with the reporting requirements to avoid these penalties.
What information do you need when you file the form?
When filing IRS 1098-T, ensure you have the following information: student name, address, taxpayer identification number (usually a Social Security number), educational institution’s name and address, and the amounts for qualified tuition and fees paid. Verify all entries for accuracy to facilitate smooth processing.
Is the form accompanied by other forms?
IRS 1098-T is often filed alongside Form 8863, which is the Education Credits form. This form is used to claim education credits based on the information provided in the 1098-T. Make sure to attach Form 8863 with your tax return for accurate credit claims.
Where do I send the form?
The completed IRS 1098-T must be submitted to the IRS and a copy retained by the educational institution. If you are a student, retain your copy for your records when filing your tax return. The mailing address for the IRS varies based on the state in which you reside, so check the IRS website for specifics.
FAQ about IRS 1098-T
What should I do if I find a mistake on my IRS 1098-T after filing?
If you discover an error on your IRS 1098-T after submission, it is crucial to file a corrected form. You can submit the amended 1098-T to the IRS, ensuring that you indicate it as a correction. Always retain copies of both the original and amended forms for your records.
How can I verify if my IRS 1098-T has been processed?
To verify the status of your e-filed IRS 1098-T, you can use the IRS e-File status tool, which allows you to check if your submission has been received and processed. Be aware of common rejection codes that may indicate issues with your filing.
Are there any special considerations for filing IRS 1098-T for nonresident aliens?
When filing IRS 1098-T for nonresident aliens, it is essential to address the withholding tax obligations that may apply. Additionally, ensure that the correct tax identification numbers are used and that recipients are properly informed about their tax responsibilities.
What should I do if my IRS 1098-T submission is rejected?
If your IRS 1098-T is rejected, review the rejection notice for specific error codes and reasons. You should correct the mistake and resubmit the form promptly. Note that some e-filing services may offer refunds for submission fees in the event of a rejection.
How long should I retain copies of my IRS 1098-T?
It is recommended to retain copies of your IRS 1098-T for at least three years from the date of filing. This retention period helps ensure you have the necessary documentation on hand in case of an audit or inquiry related to your tax filings.
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