What tax form do I use if I am a college student?

For most college students filing a tax return, that’s the standard Form 1040. You’ll use this form to report your income for the year and filing status, along with any deductions or tax credits you plan to claim. Deductions permit you to decrease the taxable part of your income for the year.

How do I get my 1098-T form?

Current 1098-T Students can retrieve their 1098-T via the Student Portal. To retrieve, log into the Student Portal. Then click on Resources>Business Office>Retrieve Your 1098-T. If a student is not eligible for a 1098-T, they will receive a message indicating that and why they may not be eligible.

What kind of tax form do I need for college?

Eligible colleges or other post-secondary institutions must send Form 1098-T to any student who paid “qualified educational expenses” in the preceding tax year. Qualified expenses include tuition, any fees that are required for enrollment, and course materials required for a student to be enrolled at or attend an eligible educational institution.

Where does the tuition report go on a tax form?

If the school reports the amount paid, it puts that figure in Box 1 of the form. If it reports the amount billed, it does so in Box 2. A school generally has to use the same reporting method every year. If it changes its method—which requires IRS approval—it puts a check mark in Box 3.

When do colleges send 1098-T Tuition statements?

If you are a college student, you’ll probably get a Form 1098-T, a tuition statement sent from your college or university, right around tax time. To help you understand what this form is all about, I’ve outlined what the form reports and how it affects your taxes. First off,…

What kind of tax credits can I claim for Education?

You may claim the credit for qualified expenses you paid for yourself (if you were not claimed as a dependent), your spouse, or your dependent. Qualified expenses include tuition, fees, books, supplies, equipment, and other course materials as long as they are required (room and board is not included).