What is Form 1098-T?
Form 1098-T, Tuition Statement: When figuring an education credit or the tuition and fees deduction, use only the amounts you paid and are deemed to have paid during the tax year for qualified education expenses. In most cases, the student should receive Form 1098-T from the eligible educational institution by January 31st. We are required by the IRS to report payments received during the calendar year in (box 1) for qualified education expenses.