What is Form 1098-T?
Form 1098-T, Tuition Statement reports the amount of qualified education expenses paid by the student during the tax year. If you paid tuition for higher education, you should receive your 1098-T by mid-February (contact your school if you still don't have it by then).
- Here is how to enter your 1098-T in TurboTax.
- If you’re the student listed on the 1098-T, and you're not being claimed as a dependent, enter the 1098-T on your return - unless your employer paid for or reimbursed your tuition (in which case, you will not need to enter it, just keep the 1098-T with your tax records).
- If the student on the 1098-T is your dependent, enter the 1098-T on your return, even if your dependent paid the tuition.
Education Tax Credits and Deductions Related to 1098-T
Your 1098-T may qualify you for education-related tax benefits like the American Opportunity Credit, Lifetime Learning Credit, or the Tuition and Fees Deduction. If you qualify for more than one benefit, the TurboTax Education Optimizer will automatically select the one that gives you the biggest federal tax benefit. However, you'll have a chance to manually override our selection.