Higher education can be expensive\u2014and students and families look for financial aid or tax breaks that will offset the financial load. The 1098-T tuition statement is a tax form that helps you capture one of those great tax perks you don\u2019t want to miss out on.<\/p>\n\n\n\n
So, take note, students, you\u2019ll get a 1098-T form, a tuition statement sent from your college or university, by January 31. To help you understand what the 1098-T is all about, we\u2019ve outlined what this IRS tax form reports and how it affects your taxes.<\/p>\n\n\n\n
Have other student tax filing questions<\/em><\/strong>? Be sure to visit our <\/em>Tax Guide for College Students<\/em><\/a> and learn about student tax forms that can be filed for free.<\/em><\/p>\n\n\n\n Not sure of the answer to the question, \u201cWhat is a 1098-T form?\u201d No worries, this is not a pop quiz!<\/p>\n\n\n\n Your 1098-T tax form, sometimes dubbed as the \u201ccollege tax form\u201d or the \u201ctuition tax form\u201d will show you the total payments of qualified education expenses (in Box 1) within a tax year. The school reports the amount to you and the Internal Revenue Service (IRS). Think of it as a receipt for your qualifying higher education payments.<\/p>\n\n\n\nWhat is a 1098-T?<\/h2>\n\n\n\n