Form 1098-T

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Form 1098-T

A form published by the IRS that a lender uses to report the interest that a borrower pays on a student loan in a year in excess of $600. The form is reported to the IRS and sent to the borrower. Because student loan interest is tax deductible up to a certain limit, receiving Form 1098-C and reporting the interest paid to the IRS may significantly impact one's tax liability.
References in periodicals archive ?
As a result, schools are mandated for the first time this year to send the 1098-T form to students or their parents.
But what's confusing is that schools are sending out the 1098-T forms with only the names and addresses of students, Burlison said.