Form 1098-T (2023)

What Is Form 1098-T 2024?

IRS Form 1098-T is an informational document provided to a student on January 31 each year. The 1098-T Tuition Statement covers the January — December timeframe. Insurers file it for each person whom they compensated for qualified tuition and accompanying expenses.

What do I need Form 1098-T for?

If you wonder, “what is a 1098-T used for?”, consider the following:

• an eligible educational institution must file this form for each student it enrolls to report a made transaction;
• an insurer has to file a 1098-T Scholarship Exceeds Tuition form for each person to whom they made refunds for certified tuition and related expenditures.

How to Fill Out Form 1098-T in 2024?

Step 1: Click the “Fill Out Form” button to get a printable PDF blank and complete it online.
Step 2: Provide the student's TIN and the filers' data in the left column.
Step 3: In box 1, enter the total sum received for payments made during the tax year for certified tuition and accompanying expenses.
Step 4: State the total amount billed during the tax year for the mentioned services in box 2.
Step 5: Section 3 displays if your institution changed its reporting method for the tax year.
Step 6: Box 4 shows adjustments made for a previous year for qualified tuition and related expenses.
Step 7: In 5, enter the total sum of all scholarships and grants processed by the eligible educational institution.
Step 8: In section 6, indicate adjustments to scholarships or grants for a previous year.
Step 9: In box 7, specify whether the sum in boxes 1 or 2 includes amounts for the period from January to March of the following tax year.
Step 10: Box 8 reveals whether a student is carrying half of the normal full-time workload for their educational course in the institution.
Step 11: Address box 9 if you are enrolled in a program aimed at obtaining a graduate degree or graduate-level certificate.
Step 12: Section 10 is for the total amount of compensation for qualified tuition and related expenses made by an insurer. 
Step 13: Click the “Done” button to download the fillable 1098-T form on your PC.

Organizations That Work With Form 1098-T

The IRS