1098T is a tax document which identifies qualified educational expenses paid for the purpose of claiming Tuition and Fee deductions, American Opportunity Credit, or Lifetime Learning Credit when preparing federal income taxes. Forms are made available to students by January 31st each year, as required by the Internal Revenue Services (IRS).
The 1098T form is informational only and should not be considered as tax advice. It serves to alert students that they may be eligible for federal income tax education credits such as the American Opportunity Tax Credit and the Lifetime Learning Credit as part of their Federal Income Tax Return. Information regarding 1098T forms may be found on the IRS website at http://www.irs.gov/forms-pubs/about-form-1098-t.
DISCLAIMER: Indiana State University is not qualified to provide legal and/or tax advice. The information provided may or may not reflect recent revisions in IRS regulations. For tax advice on your specific situation, contact a tax professional. For additional information regarding the tax benefits for education you can call the IRS at 1-800-829-1040, or refer to IRS Form 970 , "Tax Benefits for Higher Education".