Form 1098-T - Entering in Program

Form 1098-T is a tuition statement and is sent to a student from their college. Form 1098-T 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, or by a third party for that dependent, are considered paid by you.

To enter or review the information for Form 1098-T in TaxAct:

  1. From within your TaxAct return (Online or Desktop), click Federal. On smaller devices, click in the upper left-hand corner, then choose Federal.
  2. Click Education to expand the category and then click Student Worksheet (tuition, scholarships)
  3. Click New Copy of Student Information (Desktop users click Add) to create a new copy of the form or click Review to review a form already created
  4. The program will proceed with the interview questions for you to enter or review the appropriate information
  5. If you have not yet added the Form 1098-T, after the Educational Institution screen, you will come to a screen titled Student Information - Form 1098-T where you will want to click Yes to add a new copy of the form. If you have already added the Form 1098-T, you will come to a screen titled Tuition Statement - Summary where you can review the form or add a new copy.

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