financial Data To Be Reported To The Recipient On Forms 1098-t
(printed And Electronic).
In addition, schools can exclude certain (1) students from receiving Forms 1098-T and (2) transactions from the totals they report; see Regs.
While these individuals will be constrained by FERPA from discussing too much specific account detail, they will also be aware of the challenges typically faced by students and the tax professionals who use their Forms 1098-T, and can still offer some relevant guidance that may answer some questions.
Schools are not required to file Forms 1098-T for courses for which academic credit is not offered, such as continuing education courses for professionals.
Taxpayers rely on the information reported on Forms 1098-T to prepare their tax returns with regard to education expense issues.
Taxpayers should not rely solely on Forms 1098-T when preparing returns that involve education expenses.