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1098 T Form 2017

2017-2025 Form

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What is a W-9 tax form? What is a W-9 tax form?

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Instructions and help about 1098 T Form

So I have some bad news for you guys. If you have been taking advantage of education tax credits such as the American Opportunity Tax Credit or the Lifetime Learning credit, chances are you (or your tax preparer) have been calculating it all wrong. A few weeks ago, we posted a video on tax deductions for college students and in the comments we got a lot of questions about the 1098-T and how you use the 1098-T to calculate your tax credit. So this video is a follow-up to that video. So, if you haven’t seen that video, go watch that one first and come back to this one. It’s time to clear the air and learn how this is supposed to go. So here’s how a lot of people think the credit works. You put in the information from your 1098-T, subtracting your reported scholarships and grants in box 5 from the amount listed in either box 1 or box 2. That should give you the net amount of qualified expenses for which you can claim either the American Opportunity Tax Credit and/or Lifetime Learnin

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IRS 1098-T 2019
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IRS 1098-T 2018
4.8 Satisfied (1057 Votes)
IRS 1098-T 2017
4.6 Satisfied (724 Votes)

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