If someone in the household is in school, there may be education benefits available. They are commonly missed because the forms arrive separately from everything else.
The forms to look for
- **1098-T** from the school, showing tuition and related amounts.
- **1098-E** for student loan interest paid.
- Records of what you actually paid, which is not always what appears on the form.
- Records of scholarships and grants received, which affect the calculation.
The form is a starting point, not the answer
A 1098-T reports amounts billed or paid according to the school's records, on the school's timing. What matters for the return is what was actually paid and when, and those can differ — particularly when a spring semester is billed in the previous calendar year.
What tends to qualify
- Tuition and required fees.
- Required course materials, depending on which benefit applies.
- Costs for the student, spouse or a dependent.
What generally does not
- Room and board.
- Transportation.
- Insurance and medical fees.
- Expenses paid with tax-free scholarship money.
Who claims the student matters. If a parent claims the student as a dependent, the education benefit generally goes with the claim rather than with whoever paid. Decide this together before either return is filed.
Bring the paperwork
Bring the 1098-T, the payment records and the scholarship details. Call (432) 257-7547 or come by 700 C Andrews Hwy in Midland. We work in English and Spanish.
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