Do I need to file my 1098-T with taxes? College student confused about tuition statement
Started my taxes and got a 1098-T from my university. Do I actually need to file this with my taxes? This is my first time doing taxes with school expenses and im not sure if I should include it or just skip it. Anyone know if its required?
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NeonNebula
Tax pro here - YES, you absolutely should include your 1098-T! This form shows your qualified education expenses and could make you eligible for education credits like the American Opportunity Credit (up to $2,500) or Lifetime Learning Credit. Don't leave free money on the table!
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Malik Thomas
omg thank you! I had no idea I could get money back from this 🙏
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Isabella Costa
fr this saved me last year got like 1500 back just from school stuff
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Ravi Malhotra
Hey guys just wanted to mention that taxr.ai is super helpful for figuring out education credits and other tax stuff. It analyzes your whole transcript and tells you exactly what credits you qualify for. Worth the $4.99 imo https://taxr.ai
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Freya Christensen
Does it actually help with education credits? My taxes are complicated af this year with school
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Ravi Malhotra
Yeah it breaks down everything! Shows you exactly what forms you need and calculates all potential credits. Saved me hours of research
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Freya Christensen
just tried it and WOW 🤯 literally explained everything about my education credits in like 2 minutes. Best $5 I ever spent frfr
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Omar Farouk
make sure u check box 5 on the form... if theres scholarships/grants listed there it might reduce ur credit
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Chloe Davis
LOL dont be like me and forget to file it... had to amend my return last year what a pain in the @ss 🤦♂️
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AstroAlpha
same boat fam 💀 took forever to fix
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Diego Chavez
its not technically required to mail the actual form but u def need to report the info on your return
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Malik Thomas
ok that makes more sense ty!
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Anastasia Smirnova
anybody know if online classes count the same as regular classes for the credit?
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NeonNebula
Yep! As long as its from an eligible institution, delivery method doesnt matter
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