What is this IRS 1098-T "Tuition Statement" form?

The 1098-T "Tuition Statement" gives a report on the qualified tuition and related expense activity for a sutdent during a given tax year. This information is reported to the IRS and acknowledges that a taxpayer may be eligible to claim the American Opportunity Tax Credit or the Lifetime Learning Credit

Form 1098-T is not a bill.

Why did I receive the 1098-T form?

A 1098-T form is generated for each student who has been billed for qualified tuition and related expenses during the calendar year, who has had a scholarship or grant disbursed to their account during the calendar year or who has had an adjustment to the previous year.

If I receive form 1098-T, does it mean that I qualify for the education tax credits or tuition and fees deduction?

No, receipt of the form does not mean that you necessarily qualify. Lakeland Community College is required to provide Form 1098-T to individuals who were billed for qualified tuition and fees during 2016. To determine your eligibility, see the Internal Revenue Service Publication 970 or contact your personal tax advisor.

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