[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"detail-sidebar-cat-1-en-105":3,"doc-seo-301629-105":53,"doc-detail-301629-en":126},{"code":4,"msg":5,"data":6},0,"success",[7,14,19,24,29,34,39,44,49],{"id":8,"doc_module":9,"doc_module_name":10,"category_name":11,"show_sort_weight":12,"slug":13},11,1,"Template","Presentations",90,"presentations",{"id":15,"doc_module":9,"doc_module_name":10,"category_name":16,"show_sort_weight":17,"slug":18},12,"Resumes",80,"resumes",{"id":20,"doc_module":9,"doc_module_name":10,"category_name":21,"show_sort_weight":22,"slug":23},14,"Invoices",70,"invoices",{"id":25,"doc_module":9,"doc_module_name":10,"category_name":26,"show_sort_weight":27,"slug":28},15,"Posters",60,"posters",{"id":30,"doc_module":9,"doc_module_name":10,"category_name":31,"show_sort_weight":32,"slug":33},16,"Social Media",50,"social-media",{"id":35,"doc_module":9,"doc_module_name":10,"category_name":36,"show_sort_weight":37,"slug":38},17,"Forms",40,"forms",{"id":40,"doc_module":9,"doc_module_name":10,"category_name":41,"show_sort_weight":42,"slug":43},18,"Letters",30,"letters",{"id":45,"doc_module":9,"doc_module_name":10,"category_name":46,"show_sort_weight":47,"slug":48},21,"Paper Templates",5,"papers-templates",{"id":50,"doc_module":9,"doc_module_name":10,"category_name":51,"show_sort_weight":4,"slug":52},158,"General","general-158",{"code":4,"msg":54,"data":55},"ok",{"site_id":56,"language":57,"slug":58,"title":59,"keywords":60,"description":61,"schema_data":62,"social_meta":119,"head_meta":121,"extra_data":123,"updated_unix":125},105,"en","tax-filing-info-information-about-form-1098-t","Tax Filing Info - Information About Form 1098-T","","Tax Filing Info provides a practical walkthrough of IRS Form 1098-T, explaining what the form is, who may claim related education tax credits, and how to interpret each reported box. It details eligibility rules for the Hope Scholarship Credit and alternatives such as the American Opportunity Credit and Lifetime Learning Credit. The guidance covers how amounts in boxes 2, 4, 5, 6, and 8 interact, including common scenarios and example enrollment status. 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The credit amount may be reduced if income is above a threshold.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"Who is eligible to claim the education tax credit related to Form 1098-T?",{"text":113,"@type":109},"The student may claim the credit if not considered a dependent for income tax purposes. If parents paid tuition and fees, the parents may claim the credit, provided the income is within IRS guidelines. If filing status is married filing separate, the Hope Scholarship, American Opportunity Credit, and Lifetime Learning Credit generally cannot be taken.",{"name":115,"@type":106,"acceptedAnswer":116},"How do Box 4 and Box 5 affect the amount reported in Box 2?",{"text":117,"@type":109},"Box 4 nets adjustments to the student’s account and should be subtracted from the amount in Box 2. Box 5 reflects financial aid and scholarships; it notes that if aid exceeds tuition and fees, the tax credit may not be taken, and Box 5 should be subtracted from Box 2.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},301629,1790248358,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":35,"category_name":36,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":9,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":76,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":9},4810365810221,"https://ap-avatar.wpscdn.com/davatar_155a257f0dc6eb9ab79c44ca47cae57d","Tax Filing Info  \nInformation About Form 1098-T  \nThe following questions and answers guide you through the basics of the 1098-T tax form and offer explanations about the boxes on the form.  \n• What is a 1098-T form?  \n• Who is eligible for the tax credit?  \n• What are the boxes on the form?  \n• What form or forms do I complete?  \n• If I do not qualify for the Hope Scholarship and the American Opportunity Credit, can I apply for the Lifetime Learning Credit?  \n• Other recommendations  \nWhat is a 1098-T form?  \nThe 1098-T tax form informs the taxpayer if he/she is eligible for the Hope Scholarship Credit. The Hope Scholarship Credit provides tax credits based on the taxpayers modified adjusted gross income (MAGI) . The amount of the tax credit is gradually reduced if your income falls above a certain threshold.  \nWho is eligible for the tax credit?  \nThe student, if not considered a dependent for income tax purposes, is eligible to claim the credit. If the student had tuition and fees paid by the parents, then the parents can claim the credit providing income for the year is within IRS guidelines. If the student or the parents are married filing separate, then the Hope Scholarship, American Opportunity Credit and the Lifetime Learning Credit cannot be taken. However, the tuition and fee deduction can be used. For a more detailed explanation review other recommendations.  \nWhat are the boxes on the form?  \n• Box 1 is not being used this year for reporting purposes.  \n• Box 2 represents total amount billed for tuition and qualified fees. If the student received a waiver during the year, then the amount of the waiver would reduce the amount in box 2.  \n• Box 4 nets adjustments to the student's account. If a number is posted to box 4. then this amount should be subtracted from the amount in box 2. Items included in box 4 are the tuition and fee adjustments during the prior year (e.g. , if the student registered for a class in November of one year and for spring the following semester) . The amount would show as an adjustment on the 1098-T, because the registration took place in the previous year. Remember to subtract box 4 from box 2.  \n• Box 5 reflects financial aid and scholarships made to the student during the tax year. If the student's aid exceeds tuition and fees, then the tax credit may not betaken. Remember to subtract box 5 from box 2.  \n• Box 6 shows adjustments for scholarships and/or grants for a semester held in the prior tax year. Remember to subtract box 6 from box 2.  \n• Box 7 will be marked with a \"Y\" if the student made a registration in one tax year but the class is scheduled for the following calendar year. The registration is reflected in box 2.  \n• Box 8 tells the recipient if he/she qualifies for the credit. The law states that a student must be enrolled at least half-time (minimum-six credit hours in one semester) in a degree or certificate program. If the student qualifies, then the box will be marked with an \"X.\"  \nExample: Jane Doe took six credit hours during a year at Lee College. If she took a three credit course in the spring and a three credit course in the fall, she would not qualify because under the law because she would not be considered a half-time student in any one semester. If Jane took six credits in the spring semester, she would qualify for the credit, because under the law she would be considered a half-time student.  \nWhat form or forms do I complete?  \nTo apply for the Hope Scholarship, one should refer to IRS tax form 8863 and Publication 970 when completing your forms. If you are experiencing difficulty completing the form, you should consult a tax advisor.  \nIf I don't qualify for the Hope Scholarship, can I apply for the Lifetime Learning Credit?  \nYes. The law states a student can claim a credit of twenty percent of total tuition and related fees to a maximum of $2,000 ($10,000 x 20%) .  \nThe tax form to be used for Lifetime Learning Credit is the same as the Hope Scholarship. Refe","cbCaimzwRWwQKtNB","https://ap.wps.com/l/cbCaimzwRWwQKtNB","pdf",11426,"English","# Tax Filing Info\n## Information About Form 1098-T\n## What is a 1098-T form?\n## Who is eligible for the tax credit?\n## What are the boxes on the form?\n## What form or forms do I complete?\n## If I don't qualify for Hope Scholarship, can I apply for the Lifetime Learning Credit?\n## Other recommendations\n## Revised IRS Guidelines\n## Pell Grants and Other Title IV Need-Based Education Grants","[{\"question\":\"What is a 1098-T form used for?\",\"answer\":\"A 1098-T tax form informs the taxpayer whether they may be eligible for the Hope Scholarship Credit, based on the taxpayer’s modified adjusted gross income (MAGI). The credit amount may be reduced if income is above a threshold.\"},{\"question\":\"Who is eligible to claim the education tax credit related to Form 1098-T?\",\"answer\":\"The student may claim the credit if not considered a dependent for income tax purposes. If parents paid tuition and fees, the parents may claim the credit, provided the income is within IRS guidelines. If filing status is married filing separate, the Hope Scholarship, American Opportunity Credit, and Lifetime Learning Credit generally cannot be taken.\"},{\"question\":\"How do Box 4 and Box 5 affect the amount reported in Box 2?\",\"answer\":\"Box 4 nets adjustments to the student’s account and should be subtracted from the amount in Box 2. Box 5 reflects financial aid and scholarships; it notes that if aid exceeds tuition and fees, the tax credit may not be taken, and Box 5 should be subtracted from Box 2.\"}]","Tax Filing Info - Information About Form 1098-T | PDF",1789784207]