Explanation of IRS Form 1098-T

  • The IRS Form 1098-T is an information form filed with the Internal Revenue Service.
  • The IRS Form 1098-T that you received reports amounts billed to you for qualified tuition and related expenses, as well as other related information.
  • You, or the person who may claim you as a dependent, may be able to take either the tuition and fees deduction or claim an education credit on Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid during the calendar year.
  • All information and assistance that CIAM can provide to you is contained in this notice.
  • There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.

Attaching Form 1098-T to Your Tax Return

You are not required to attach IRS Form 1098-T to your tax return. The IRS Form 1098-T is not like the IRS Form W-2 obtained from your employer, which is required to be attached to the tax return filed with the IRS. The primary purpose of the IRS Form 1098-T is to let you know that CIAM has provided required information to the IRS to assist them in determining who may be eligible to claim the tuition and fee deduction or an education credit.

 

If Your 1098-T is Incorrect

The Social Security Number and address on Form 1098-T were obtained from information provided to CIAM, although the address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security Number. Your Social Security Number must be correct. Please call (626) 350-1500 if the Social Security Number on your 1098-T is not the correct number.

Use Your Own Records

You should not rely solely on the supplemental information provided by CIAM.  If you are taking the tuition and fee deduction or claiming one of the education credits, you should also use your own records to determine tuition paid, refunds of qualified expenses, and tax-free educational assistance.  This is particularly true if an employer or other non-CIAM entity has reimbursed you for tuition paid or paid your tuition directly on your behalf.  The information on the supplemental report does not reflect any refunds or reimbursements paid to you or on your behalf by third parties, but these amounts must be considered in determining eligibility for the tax credits.  If you have further questions regarding your qualification for the Education Tax Credits, please obtain available information from the IRS and/or consult with a tax advisor.
 

For more information about Form 1098-T, please visit the official IRS Form 1098-T page.