Form 1098-T - Entering Education Credits and Deductions in Program

Form 1098-T Tuition Statement is sent to a student from their college and reports the following:

  • The payments received for qualified tuition and related expenses;
  • The amount billed for qualified tuition and related expenses;
  • The amount of scholarships and grants administered and processed for the student by the college;
  • If the student was considered enrolled at least-half time;
  • If the student was a graduate student.

Per IRS Publication 970 Tax Benefits for Education, qualified education expenses paid by a dependent you claim, or by a third party for that dependent, are considered paid by you.

To enter or review the information from Form 1098-T into the TaxAct program for the calculation of the education credits or deduction:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then click Federal.
  2. Click Education in the Federal Quick Q&A Topics menu to expand, then click All education topics.
  3. Click + Add Student Information, select from the Student drop-down, then click Continue (If no student is listed, see Student Worksheet Entries.
  4. Continue through the screens to enter the appropriate information or reviewing entries already made.
  5. On the screen titled Student Information - Educational Institution, click Yes under the Form 1098-T question, then click Continue.
  6. Click + Add Form 1098-T to create a new copy of the form or click Edit to review a form already created.
  7. Click Quick Entry to scroll down to answer all applicable questions or click Step-by-Step Guidance to proceed with the program interview questions.

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the document at the time it is accessed.