The IRS Form 1098-T is provided, as required by the IRS, to provide information that may assist you in completing your individual tax return. The information listed on IRS Form 1098-T may be different than the amount you paid. We strongly recommend seeking professional assistance when claiming an education tax credit. Regardless of the information provided on the 1098-T, if you choose to claim an education tax credit, you should always keep documentation such as invoices and receipt of payment that supports any claimed tax credit even if you report only what is on IRS Form 1098-T.
- If you DID NOT provide a Social Security Number to Cowley please fill out Form W-9S to provide a taxpayer identification number (SSN).
- The IRS Form 1098-T is an information form filed with the Internal Revenue Service.
- The IRS Form 1098-T that you receive reports amounts paid for qualified tuition and related expenses, as well as other related information
- You, or the person who may claim you as a dependent, may be able to claim an education tax credit on IRS Form 1040 for the qualified tuition and related expenses that were actually paid during the calendar year.
Additionally, the links below may be helpful in understanding the instructions, purpose, and applicability of the 1098-T for your individual tax situation.
https://www.irs.gov/individuals/students
https://www.irs.gov/taxtopics/tc421
https://www.irs.gov/individuals/international-taxpayers/foreign-students-and-scholars
https://www.irs.gov/newsroom/tax-benefits-for-education-information-center
https://www.irs.gov/forms-pubs/about-publication-970