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Form 1098-T for the 2016 tax year. Form 1098-T, Tuition Statement, is an American IRS tax form filed by eligible education institutions (or those filing on the institution's behalf) to report payments received and payments due from the paying student. The institution has to report a form for every student that is currently enrolled and paying ...
As of the 2018 tax year, Form 1040, U.S. Individual Income Tax Return, is the only form used for personal (individual) federal income tax returns filed with the IRS. In prior years, it had been one of three forms (1040 [the "Long Form"], 1040A [the "Short Form"] and 1040EZ – see below for explanations of each) used for such returns.
Form 1099-MISC reports income from royalties, rents, prizes and awards, and other income payments. Form 1098-T is a tuition statement for higher education expenses.
The 1098-T form is a tuition statement. It outlines the tuition expenses you paid for college, which may entitle you to an income adjustment or a tax credit. It can be found on IRS.gov.
These are only a few of the federal forms.States have many equivalent forms and reporting requirements. Taken together, these tax information reporting forms touch hundreds of millions of individuals and businesses, and require a large time commitment on the part of businesses, nonprofit organizations, and educational institutions to administer, prepare and file.
Lenders aren't obligated to issue a Form 1098 if they receive less than $600 in interest, mortgage insurance premiums or points for the year. The IRS also allows an exclusion for interest received ...