The 1098-T is a
tuition statementprovided to you by
your school no laterthan January 31st
which indicatesthe amount of tuition
you paid or were billedduring the calendar year.
This form is intended to
assist you, or your parents,in the preparation of your
federal income tax returnto determine if you are eligible
for either of the two taxcredits: the American
Opportunity TaxCredit or the Lifetime
Included on the 1098-T are
tuition and selected feesbilled, grants, scholarships,
and 3rd Party Billing Paymentsprocessed during
the calendar year.
Box 1 shows the total payments
received by your schoolfrom any source for qualified
tuition and expensesless any reimbursements
or refunds made.
Box 2 is reserved
and will be blank.
Box 3 shows whether your school
changed its reporting method.
Box 4 shows adjustments made for
qualified tuition and relatedexpenses that were reported
for a prior calendar year.
Box 5 shows the total amount
of scholarships or grantsthat were processed for the
payment of qualified tuitionand related expenses.
Box 6 shows the amount of
reduction or refunds madefor scholarships or grants that
were reported for a prior year.
Box 7 shows whether
the amount in box 1includes amounts for an academic
period beginning January -March of the following year.
Box 8 is only checked if you
have been at least a half-timestudent for at least
one academic period thatbegan during the calendar year.
Box 9 is checked if
you were enrolledas a graduate student
for at least oneacademic period during
the calendar year.
Box 10 shows the amount of
reimbursements or refundsof qualified tuition and
related expenses thatwere made by an insurer.
It is your responsibility
to determinethe amount of qualified
tuition and fees paid,and whether you are eligible
to use the tax credits.
Consult with a tax professional
to determine which tax creditsyou may be eligible for.