Box 4 of the form shows any adjustments the school has made to qualified expenses reported on a previous year's 1098-T. If it turns out a previous year's expenses were lower than initially reported, the student may be responsible for additional tax for that year. Box 5 shows the amount...
Eligible colleges or other post-secondary institutions send Form 1098-T to students who paid "qualified educational expenses" in the preceding tax year. Qualified expenses include tuition, any fees that are required for enrollment, and course materials r
Whatisthe1098TformaretheTaxgetaT：什么是1098T形式是税收得到T
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Box 4: Refund of overpaid interest. If you overpaid the refunded mortgage interest, it would be listed here. Box 5: Mortgage insurance premiums.If you're paying private mortgage insurance or mortgage insurance premiums for the loan, those amounts are entered here. ...
Purpose: The form reports the total payments made for qualified educational expenses during the tax year (Box 1). Students and their families use the information on Form 1098-T to determine eligibility for education tax credits or deductions when filing their tax returns. ...
Box 5: RTAA payments.Box 5 shows the reemployment trade adjustment assistance (RTAA) payments you received. This amount should be included in the "other income" line of Schedule 1. Box 6: Taxable grants.Box 6 shows taxable grants you received from government agencies. ...
You put in the information from your 1098-T, subtracting your reported scholarships and grants in box 5 from the amount listed in either box 1 or box 2. That should give you the net amount of qualified expenses for which you can claim either the American Opportunity Tax Credit and/or ...
s share of proceeds from the catch sale or fair market value of goods distributed to crew members should be reported in Box 5. Also, report in Box 5 up to $100 in minimum catch contingent cash payments that may relate to additional duties but aren’t wages to be included in Form W-2...
You put in the information from your 1098-T, subtracting your reported scholarships and grants in box 5 from the amount listed in either box 1 or box 2. That should give you the net amount of qualified expenses for which you can claim either the American Opportunity Tax Credit and/or ...