IRS 1098-T 2015 free printable template

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 Copy C For Filer Paperwork Reduction Act Notice see To complete Form 1098-T use Returns and the 2015 Instructions for Forms 1098-E and1098-T. It has changed its method of reporting if the method payments received or amounts billed used for 2015 is different than the reporting method used for 2014. 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 2 Amounts billed for related expenses Form 1098-T FILER S federal identification no. STUDENT S social...security number STUDENT S name Street address including apt. no. City or town state or province country and ZIP or foreign postal code 8 Check if at least half-time student Cat. No. 25087J Copy A 3 Check if you have changed your reporting method for 2015 For Internal Revenue Service Center 4 Adjustments made for a prior year 5 Scholarships or grants File with Form 1096. 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 may be imposed for filing forms that can t be scanned* See part O in the current General Instructions for Certain Information Returns for more information about penalties. 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 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 2 Amounts billed for related expenses Form 1098-T FILER S federal identification no. STUDENT S social security number STUDENT S name Street address...including apt* no* City or town state or province country and ZIP or foreign postal code 8 Check if at least half-time student Cat* No* 25087J Copy A 3 Check if you have changed your reporting method for 2015 For Internal Revenue Service Center 4 Adjustments made for a prior year 5 Scholarships or grants File with Form 1096. 6 Adjustments to 7 Check this box if the amount in box 1 or 2 includes amounts for an academic period beginning January March 2016 10 Ins* contract reimb. /refund For...Privacy Act and Paperwork Reduction Act Notice see the 2015 General Instructions for Certain Information Returns.

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, you will need access to the original form. You can easily use pdfFiller to fill in or modify the details on the form as needed. After editing, ensure all required information is correctly entered before finalizing your submission.

How to fill out IRS 1098-T

Filling out the IRS 1098-T requires specific information about the student and the educational institution. Begin by entering the student's details, including their name, Social Security number, and address. Next, include the taxpayer's information and report qualified tuition and related expenses in the appropriate boxes. Double-check all entries for accuracy to avoid issues during submission.

About IRS 1098-T 2015 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 2015 previous version

What is IRS 1098-T?

IRS 1098-T is a tax form used by eligible educational institutions to report qualified tuition and related expenses to the Internal Revenue Service (IRS) and to students. This form is essential for students who are claiming education-related tax credits.

What is the purpose of this form?

The primary purpose of the IRS 1098-T form is to provide students with the necessary documentation to claim education tax benefits. These benefits include the American Opportunity Credit and the Lifetime Learning Credit, which can help reduce the overall tax liability for students or their parents.

Who needs the form?

Educational institutions must issue Form 1098-T to any student who paid qualified tuition and related expenses during the tax year. Additionally, students, parents, or guardians using the form to claim tax credits need to ensure that they receive a copy from their school.

When am I exempt from filling out this form?

Students may be exempt from receiving a Form 1098-T if they are enrolled in a course for which no academic credit is given, or if their tuition is covered entirely by scholarships or grants. Additionally, non-resident aliens are typically not issued this form unless specifically requested.

Components of the form

The IRS 1098-T includes several key components: the student's identifying information, the institution's name, address, and Employer Identification Number (EIN), and detailed columns for reporting amounts billed for qualified tuition and expenses, scholarships, and grants received during the tax year. Each component is essential for accurately preparing tax returns and claiming credits.

What are the penalties for not issuing the form?

Failure to issue Form 1098-T can lead to penalties for educational institutions. The IRS imposes fines that can accumulate based on the number of days the form is late, with higher penalties for intentional disregard of the requirement. Additionally, students may miss out on potential tax credits without this form.

What information do you need when you file the form?

To file IRS 1098-T, you need the student's personal details (name, Social Security number), the institution's information (name, address, EIN), and the financial details regarding qualified tuition and expenses paid, including scholarships or grants awarded. Having accurate information ensures compliance and reduces the risk of errors.

Is the form accompanied by other forms?

IRS 1098-T does not inherently require additional forms to be submitted with it, but taxpayers claiming education tax benefits may need to fill out IRS Form 8863 (Education Credits) to report the eligible credits on their tax return. It is essential to keep all related documentation for your records.

Where do I send the form?

Form 1098-T should be submitted to the IRS at the address specified on the form's instructions. Educational institutions must send copies of the form to both the IRS and the eligible students by the designated filing deadline, ensuring compliance with IRS regulations.

FAQ about IRS 1098-T

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What is IRS 1098-T?

IRS 1098-T is a tax form used by eligible educational institutions to report information about their students' qualified tuition and related expenses, as well as scholarships and grants received.

Who is required to file IRS 1098-T?

Eligible educational institutions are required to file IRS 1098-T for each student who is enrolled and for whom they have received qualified tuition payments.

How to fill out IRS 1098-T?

To fill out IRS 1098-T, educational institutions need to enter the institution's information, the student's details, and report the amounts for qualified tuition and fees, any adjustments made, scholarships, and grants received during the tax year.

What is the purpose of IRS 1098-T?

The purpose of IRS 1098-T is to provide students and the IRS with information needed to claim education tax credits such as the American Opportunity Credit and the Lifetime Learning Credit.

What information must be reported on IRS 1098-T?

The information that must be reported on IRS 1098-T includes the institution's name, address, and EIN, the student's name, address, and taxpayer identification number, qualified tuition and related expenses, adjustments made, and any scholarships or grants received.