What does 1098-T include?

A form 1098-T, Tuition Statement, is used to help figure education credits (and potentially, the tuition and fees deduction) for qualified tuition and related expenses paid during the tax year. You can claim the $2,500 American Opportunity Credit for each qualifying student on your federal income tax return.

Do I file 1098-T if I get financial aid?

Yes and no. There is no IRS requirement that you must claim an education credit or tuition and fees deduction.

What is the purpose of a 1098-T form?

The primary purpose of the IRS Form 1098-T is to let you know that ASU has provided required information to the IRS to assist them in determining who may be eligible to claim the tuition and fee deduction or an education credit.

What do you need to know about Form 1098-T?

IRS Form 1098-T (Tuition Statement) is an informational statement intended to serve as a guide for the taxpayer. The university prepares the form for students with qualified tuition and related expenses with U.S. citizenship or permanent resident status during the reported tax year.

Do you need a 1098-T for Case Western Reserve University?

Per Internal Revenue Services regulations, Case Western Reserve University is not required to complete a 1098-T Tax Form to non-resident alien students. However, the IRS does require the university to provide the tax form upon request by the student. To request a 1098-T form, please complete the Nonresident Alien 1098-T Request Form .

Is the CARES Act reported on the 1098-T?

Per IRS guidance, if you received CARES Act funding in 2020 (displayed in SIS as “CARES Act-Emergency Grant”), the amount received is not reported on the 1098-T. You can view the activity and the amount in SIS Finances.

Why is box 3 not checked on CWRU form?

Box 3 is not checked because the CWRU did not change its reporting method for 2020. Box 4 represents reductions made to amounts billed for qualified tuition and related expenses that were reported for a prior calendar year.