Student Tuition Statement, Federal Form 1098 T (2023)

The Federal Form 1098-T (2023) is a Student Tuition Statement, detailing qualified tuition and related expenses. Educational institutions use it to report payments received, scholarships, and adjustments, helping students and taxpayers in claiming education-related tax benefits.

Form 1098-E - Student Loan Interest Statement

Who Must File?

• File Form 1098-E if you are a financial institution, governmental unit, educational institution, or any entity receiving $600 or more in student loan interest during the year.
• If more than one person is connected to the loan, the first recipient of interest must file the form.

Qualified Student Loan

• Report only loans that are subsidized, guaranteed, financed by government programs, or certified by the borrower for higher education expenses.
• Revolving accounts like credit cards can be reported if the borrower certifies funds solely cover qualified expenses.

Loans Excluded

• Exclude interest on loans made under qualified employer plans.
• Do not report interest on mixed-use loans.

Form Details

• Enter lender information, account number if applicable.
• Box 1: Report interest received on student loans.
• Box 2: Check if loan origination fees and/or capitalized interest aren’t reported in Box 1.

Form 1098-T - Tuition Statement

Who Must File?

• File Form 1098-T if you are an eligible educational institution, and report for each enrolled student with reportable transactions.

Eligible Educational Institution

• Described in section 481 of the Higher Education Act and eligible for federal student aid programs.
• Includes accredited public, nonprofit, and private postsecondary institutions.

Qualified Tuition and Expenses

• Include tuition, fees, and course materials required for enrollment.
• Exclude amounts related to sports, personal living expenses, and non-degree courses.

Form Details

• Enter student information, account number if applicable.
• Box 1: Report total payments for qualified tuition and related expenses.
• Box 4: Adjustments for reimbursements or refunds made in 2023 relating to prior years.
• Box 5: Report scholarships or grants administered by the institution.
• Box 7: Check if any payments for 2023 relate to an academic period in January through March 2024.
• Boxes 8-9: Indicate if the student was at least half-time or a graduate student.
• Box 10: For insurers, report reimbursements or refunds of qualified tuition and related expenses made in 2023.

For a detailed overview of the Instructions for Forms 1098-E and 1098-T, please refer to the attached PDF below. To review the current year's Instructions for Forms 1098-E and 1098-T, click here.