The 1098-T provides tax information on the qualified tuition and fees to both the taxpayer and the IRS to determine eligibility for educational tax credits. Either the student or the parent that claims the student as a dependent may be eligible for the tax credits.
Please note that the 1098-T may not provide all of the information you need to determine eligibility. You will need to review your personal financial records. ORU cannot provide tax advice and we recommend that you consult a tax professional or the IRS.
You may also refer to the following IRS links for additional information
1) Tax Information for Students http://www.irs.gov/individuals/students/
2) Publication 970 (2011), Tax Benefits for Education http://www.irs.gov/publications/p970/index.html
3) Instructions for Forms 1098-E and 1098-T http://www.irs.gov/instructions/i1098et/index.html
Posted in: Tax Information (1098T)