When Are 1098-T Tax Forms Available?

Understanding Your 1098-T Tax Form

A Form 1098-T, also known as a Tuition Statement, is an informational document issued by eligible educational institutions to students. Its purpose is to report qualified tuition and related expenses paid during a calendar year. This form helps students and taxpayers determine their eligibility for various education tax credits, such as the American Opportunity Tax Credit or the Lifetime Learning Credit, and certain deductions that can help reduce their tax liability. The information on the 1098-T aids in accurately preparing federal income tax returns.

Typical Availability Dates

Educational institutions are mandated by the Internal Revenue Service (IRS) to furnish Form 1098-T to eligible students by January 31st of the year following the calendar year to which the statement applies. For instance, a Form 1098-T covering qualified tuition and related expenses for the 2024 tax year would be made available by January 31, 2025. This deadline is set to allow taxpayers sufficient time to receive their forms and accurately prepare their tax returns before the typical April tax filing deadline.

While January 31st is the official deadline, some educational institutions may issue the forms earlier, often in mid-January. This proactive approach can provide students with more time to organize their tax documents. However, the exact availability date can vary by institution, so it is advisable to check with your specific school for their precise timeline. The form helps report expenses paid, not necessarily when the courses were attended.

How to Get Your Form

Most educational institutions provide secure online portals where students can access and download their Form 1098-T. This often involves logging into a student account, navigating to a section dedicated to tax information or financial statements, and selecting the relevant tax year to view or print the form. Many schools encourage electronic delivery as the main method, offering a convenient and immediate way to obtain the document.

Some institutions may still send physical copies of the Form 1098-T via postal mail to the student’s address on file. This method is common for students who have not opted for electronic delivery or if the institution primarily uses mail for official communications. It is important to ensure your mailing address is current with the educational institution to prevent delays in receiving your form.

What to Do If You Don’t Receive One

If you expect to receive a Form 1098-T but have not by the typical availability date, first verify your eligibility; not all students receive a 1098-T. Institutions are not always required to issue one if qualified education expenses were entirely covered by scholarships, or if no academic credit was awarded for courses. If scholarships or grants exceeded qualified expenses, a 1098-T may not be issued, but the excess can be considered taxable income.

Contact your educational institution directly, specifically their Bursar’s Office, Financial Aid Office, or Student Accounts department. They can confirm if a form was issued, verify the mailing address they have on file, or provide instructions for accessing it through an online portal. Even without a physical Form 1098-T, you can still claim eligible education credits or deductions if you have other verifiable records of qualified expenses, such as receipts or bank statements.