IRS 1098-T Form
A 1098-T form is a Tuition Statement issued to a student each tax year by an eligible educational institution such as a college or university. The form is an informational document that identifies qualified student tuition or educational expenses that can be used in conjunction with what the Internal Revenue Service terms the “American Opportunity Credit”. The 1098-T form may be used by the student or whoever pays the qualified tuition or educational expenses to claim a credit to taxes filed.
Claiming this or any other educational credit is not mandated. It is strictly a voluntary action.
For additional information pertaining to the 1098-T form, please visit www.irs.gov or consult a certified tax preparer.