When Will I Get My 1098-T Tax Form?

Form 1098-T, also known as the Tuition Statement, is an informational document issued by eligible educational institutions. Its primary purpose is to report qualified tuition and related expenses to both taxpayers and the Internal Revenue Service (IRS). This form helps individuals determine their eligibility for various education tax credits, which can reduce their tax liability.

When to Expect Your 1098-T

Educational institutions issue Form 1098-T to students who paid qualified tuition and related expenses. The IRS mandates these forms must be mailed or electronically delivered by January 31st of the year following the calendar year to which the statement applies. Some institutions may send them out earlier in January.

Not all students receive a Form 1098-T. For instance, a student may not receive one if their grants and scholarships exceed their qualified tuition and related expenses. If no academic credit courses were taken, an institution might not be required to issue the form. Certain nonresident alien students may also not receive a 1098-T unless they specifically request it.

Retrieving Your 1098-T

If you are expecting a Form 1098-T and have not received it by the January 31st deadline, or if you prefer an electronic copy, check your student account portal or the institution’s official website. Many educational institutions provide secure online access to these forms, allowing students to view and download them after providing consent for electronic delivery.

Should the form not be available electronically, or if you encounter difficulties accessing it online, contact the educational institution directly. The bursar’s office, financial aid office, or student accounts department are the appropriate points of contact. These departments can assist with providing a replacement copy or guiding you through the process of obtaining your statement.

Using Your 1098-T for Tax Credits

The information presented on Form 1098-T is primarily used to assess eligibility for education tax credits, such as the American Opportunity Tax Credit (AOTC) and the Lifetime Learning Credit (LLC). The form reports key financial details, including the amounts billed for qualified tuition and related expenses in Box 1 and the total amount of scholarships or grants received in Box 5. It may also show adjustments made for prior years in Box 4 or Box 6.

While the 1098-T provides valuable data, the amount reported on it may not always reflect the exact out-of-pocket expenses you paid. Taxpayers should maintain their own detailed records, such as receipts and bank statements, to verify all qualified educational expenses. This personal documentation is crucial because, for tax credit purposes, you can generally only claim expenses actually paid out of pocket. You will utilize both the information from your 1098-T and your personal records when preparing your federal income tax return, typically with IRS Form 8863.