1098 -T

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Shanel0916
Shanel0916 Posts: 586 Member
edited January 2018 in Chit-Chat
To any tax professionals or knowledgeable (regarding taxes) folks,

Does the 1098 t form have to be filed? Thanks in advance.

Edited: As a student do I have to include the 1098 t on my taxes?

Replies

  • Riffraft1960
    Riffraft1960 Posts: 1,984 Member
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    Educational institutions are required to prepare and file 1098-T's
  • Shanel0916
    Shanel0916 Posts: 586 Member
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    As a student do I have to include it on my taxes though?
  • Timshel_
    Timshel_ Posts: 22,841 Member
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    Shanel0916 wrote: »
    As a student do I have to include it on my taxes though?

    Yes.

    Turbo Tax has a good concise page on it.

    https://turbotax.intuit.com/tax-tips/college-and-education/guide-to-tax-form-1098-t-tuition-statement/L3SqH8fg0
  • Riffraft1960
    Riffraft1960 Posts: 1,984 Member
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    Shanel0916 wrote: »
    As a student do I have to include it on my taxes though?

    Why wouldn't you, it's a tax deduction.
  • Shanel0916
    Shanel0916 Posts: 586 Member
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    They listed more in grants and scholarships than tuition (which I believe is incorrect) so it reduces my refund.
  • RoxieDawn
    RoxieDawn Posts: 15,488 Member
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    Shanel0916 wrote: »
    As a student do I have to include it on my taxes though?

    Its voluntary. Do you plan to file for an education credit on your taxes? IF so you want to file it.
  • Riffraft1960
    Riffraft1960 Posts: 1,984 Member
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    Shanel0916 wrote: »
    They listed more in grants and scholarships than tuition (which I believe is incorrect) so it reduces my refund.

    If you file for the education credit, you should use the information on your 1098-T. If it is incorrect contact your institution to get it corrected. They give this information to the IRS so they have it.

    Remember there are other educational expenses that can be included for the deduction that may not be included on your 1098-T, Books, supplies, etc.
  • Shanel0916
    Shanel0916 Posts: 586 Member
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    .
  • BrettWithPKU
    BrettWithPKU Posts: 575 Member
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    Riffraft1960 wrote: »
    Shanel0916 wrote: »
    As a student do I have to include it on my taxes though?

    Why wouldn't you, it's a tax deduction.

    If you don't want or need the money, I'm sure the government will (poorly) manage it for you.

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