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Here are the steps to follow after accessing the desired form: Confirm it is the appropriate form by previewing it and checking its description.
How to Fill Out Form 1098-T (Tuition Statement) | PDFRun - YouTube YouTube Start of suggested clip End of suggested clip First for the filer enter the following details the full legal. Name the full address including theMoreFirst for the filer enter the following details the full legal. Name the full address including the street. City or town. State or province. And zip or foreign postal.
If someone else pays the expenses on behalf of the student (such as a parent), the student can still get "credit" for the expenses and therefore gets the 1098-T. Schools must send or make the form available to the student by January 31 and file a copy with the IRS by February 28.
Please note, IRS Publication 970 states that "the amount on form 1098-T might be different from the amount you actually paid and are deemed to have paid." Further IRS Form 8863 instructions state that "The amount of qualified Tuition and related expenses reported on Form 1098-T may not reflect the total amount of the ...
The American Opportunity Tax Credit is a tax credit to help pay for education expenses paid for the first four years of education completed after high school. You can get a maximum annual credit of $2,500 per eligible student and 40% or $1,000 could be refunded if you owe no tax.
If you claim a dependent, only you can claim the education credit. Therefore, you would enter Form 1098-T and the dependent's other education information in your return. If you do not claim a dependent, the student can claim the education credit.