Federal Tax Form 1098-T is the form provided to students who pay tuition at eligible institutions for education expenses, explains Turbo Tax. Eligible institutions include most universities, colleges and vocational schools that meet the requirements to participate in the Department of Education’s student aid programs.
Schools must send out Form 1098-T to students who paid qualified educational expenses during the preceding year. Those expenses include tuition and enrollment fees, as well as required course materials the student purchased, explains Turbo Tax. If a parent paid the expenses on behalf of the student, the student still gets the credit from them and receives the 1098-T form. Schools must send the form to the student by Jan. 31 and file a copy with the IRS by Feb. 28.