The IRS Form 1098-T is an information form filed with the Internal Revenue Service (IRS) reporting payment amounts for qualified tuition and related expenses, as well as other related information.
You, or the person who may claim you as a dependent, may be able to take either the tuition and fees deduction or claim an education credit on Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid during the calendar year.
Qualified Tuition and Related Expenses
- Resident and Non-resident Tuition
- Student Activity Fees
- Late Charges
- Application Fees
- Room and Board Charges
- Course Related Books and Equipment
- Registration fees paid for non-credit courses
If you are eligible, your 1098-T form will be mailed by January 31st.
Important! Internal Revenue Service (IRS) Code 1.6050S requires Southwest Tech to request your social security number (SSN), or your individual tax identification number (ITIN) for the issuance of Form 1098-T, Tuition Payment Statement. For each calendar year, the 1098-T is used to report qualified tuition and fees to both students and the IRS. Failure to furnish a SSN for your 1098-T, according to Section 6723 of the IRC, may result in fines, but it will not prevent admission to the college.