KPMG report: Form 1098-T, educational tax credits | KPMG | GLOBAL

KPMG report: Form 1098-T, reporting educational tax credits

KPMG report: Form 1098-T, educational tax credits

Colleges and universities are required annually to notify students enrolled in degree programs of the costs to attend their institutions of higher learning by furnishing them Forms 1098-T, Tuition Statement. The information reporting requirements for the forms are changing.


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Form 1098-T provides students with tuition information that can assist them in claiming educational tax credits on their individual income tax returns. Legislation was enacted in 2015 affecting Form 1098-T. The IRS responded with a revised form for tuition payments made during calendar year 2016.


Read a March 2016 report [PDF 179 KB] prepared by KPMG LLP: What’s News in Tax: Form 1098-T Steps into the Spotlight

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