Get the free 1098-T Tuition Statement - Eastern Washington University - ewu

VERI16 STUDENT S NAME: EU ID#: (PLEASE PRINT) EASTERN WASHINGTON UNIVERSITY 2015-2016 INDEPENDENT STUDENT INCOME VERIFICATION FORM PLEASE READ CAREFULLY AND FILL OUT ENTIRE FORM Complete all sections

How to fill out 1098-t tuition statement

How to fill out 1098-T tuition statement?

1. Gather necessary information: Collect all relevant documents such as receipts, invoices, and tuition statements from your educational institution.
2. Identify the required fields: Look for fields on the 1098-T form that you need to fill out, including your personal information, educational institution details, and financial information related to your tuition payments.
3. Enter personal information: Provide accurate personal details such as your name, address, and Social Security number to ensure proper identification.
4. Fill out institutional information: Enter the name, address, and taxpayer identification number of the educational institution you attended during the tax year.
5. Report tuition expenses: Fill in the appropriate boxes or fields to report the total amount of qualified tuition and related expenses you paid during the tax year. This information can typically be found on your student account or tuition statement.
6. Include scholarships or grants: If you received any scholarships or grants, report the amounts in the designated section. Make sure to differentiate between scholarships that are taxable and those that are not.
7. Calculate adjustments and reductions: Some adjustments or reductions may apply to your tuition expenses, such as if you withdrew from a course or received refunds. Follow the instructions on the form to properly calculate and report these amounts, if applicable.
8. Review and double-check: Before submitting the form, review all the information you entered to ensure accuracy and completeness. Mistakes or omissions can lead to delays or complications when processing your tax return.

Who needs a 1098-T tuition statement?

1. Students: 1098-T tuition statements are primarily needed by students who paid qualified educational expenses during the tax year. These students may be eligible to claim education-related tax credits or deductions on their income tax returns.
2. Parents or guardians: In some cases, parents or guardians who are financially responsible for a student's education expenses may also require a copy of the 1098-T to support their own tax filings, especially if they are claiming education-related tax benefits.
3. Tax professionals: Tax professionals handling individuals' or families' tax returns may need access to the 1098-T tuition statements to accurately prepare and file tax returns. It helps them ensure compliance with the Internal Revenue Service (IRS) regulations regarding education-related tax benefits.

Remember, it is always important to consult with a tax advisor or review the latest information from the IRS to understand the specific requirements and eligibility criteria for claiming education-related tax benefits.

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What is 1098-t tuition statement?

1098-T tuition statement is a form provided by educational institutions to students which reports the amount of tuition paid during the tax year.

Who is required to file 1098-t tuition statement?

Educational institutions are required to file 1098-T tuition statements for students who paid qualified tuition and related expenses.

How to fill out 1098-t tuition statement?

You can fill out the 1098-T tuition statement by entering the required information such as student's name, address, taxpayer identification number, and amounts paid for qualified tuition and related expenses.

What is the purpose of 1098-t tuition statement?

The purpose of 1098-T tuition statement is to help students and families claim education tax credits and deductions on their federal income tax returns.

What information must be reported on 1098-t tuition statement?

The 1098-T tuition statement must report the amounts paid for qualified tuition and related expenses, as well as the amount of scholarships or grants received.