When Does the 1098-T Form Come Out?

The Form 1098-T, Tuition Statement, is a tax document provided by eligible educational institutions. This form summarizes financial information related to educational expenses paid by students during a calendar year. It assists taxpayers in determining eligibility for federal education tax benefits.

Issuance Timeline

Educational institutions are required by the IRS to issue Form 1098-T to eligible students by January 31st following the year the expenses were incurred. For example, a form detailing 2024 educational expenses would be issued by January 31, 2025. This deadline provides students with time to prepare their income tax returns and claim applicable education credits.

Institutions deliver the Form 1098-T through postal mail to the student’s address, or they may provide electronic access via a secure student portal. Many schools offer the option to consent to electronic delivery, which allows for earlier access. While January 31st is the official deadline, some institutions may make the forms available earlier in January.

Form Information and Use

The Form 1098-T reports financial details for tax purposes. Box 1 shows the total payments received by the institution for qualified tuition and related expenses during the tax year. Qualified expenses include tuition and fees required for enrollment or attendance, as well as course materials purchased from the school. Excluded are charges for housing, meal plans, health insurance, and transportation.

Box 5 reports the total amount of scholarships or grants received by the student during the tax year. This information is important because scholarships and grants can reduce the amount of qualified expenses used to calculate education tax credits. While the form itself is not attached to a tax return, the data it provides is essential for calculating potential tax benefits, such as the American Opportunity Tax Credit or the Lifetime Learning Credit.

Obtaining Your Form

If you do not receive your Form 1098-T by the January 31st deadline, or need to access a copy, you can take several steps. Most educational institutions provide electronic access to tax forms through their student online portals. Checking the financial aid or bursar’s office section of your school’s website is often the quickest way to retrieve your form.

If electronic access is not available or you encounter issues, contact your educational institution’s financial aid, bursar, or student accounts office directly. They can provide guidance on how to obtain your form or issue a duplicate. Ensure the institution has your current mailing address and taxpayer identification number (TIN) on file for proper delivery and reporting.