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1098 2019-2023 PDF Form: What You Should Know
This form is also used by the IRS to calculate whether a school is a public or private postsecondary educational institution and, if so, determine the percentage of student tax-funded by the government. For the purposes of a public postsecondary education institution, “postsecondary” includes community colleges and state universities, colleges of allied health or technical schools and vocational schools, and public institutions that are exempt from federal financial aid and whose programs must be completed as a condition of receiving such financial aid. For the purposes of a private university, the definition of “postsecondary institution” is the same as for a public postsecondary institution. If a student's tax-subsidized financial assistance includes money from a federal program or a state program, then the student must be a public or a private postsecondary institution. If the student receives public postsecondary educational assistance, then he may not reduce his or her tax liability in subsequent years by deducting qualified tuition and related expenses; but he may treat the qualified tuition and interest expenses he paid in earlier years (if any) as student tax‑subsidized expenses for purposes of reporting and claiming those expenses as tax-exempt education expenses on his tax return for the current year. You should include the following information for each student in a Form 1098-T for the school: The total amount of tuition and fees you paid that are required to be claimed as a deduction on Schedule A and Form 1040; The full amount of tuition and fees paid and deducted. If you use a nonrefundable payment method or a tuition reduction method, the deduction you may claim on Schedule A by using the amounts deducted on Form 1098-T may be a larger amount. For further information on this form, contact the following: (UCC-1835) The UCC-1835: Student Aid Administrators (SAA) U.S. Department of Education 1098 (Bureau of Examination) | Tax Form | U.S. Department of the Treasury 1098-T (Bureau of Examination) | Tax Form | U.S. Department of the Treasury Form 1098-T (Bureau of Examination) | Tax Form | U.S.
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