IRS 1098-T Tax Document for 2020
If your 1098-T tax document for 2020 is not viewed electronically, it will be mailed by January 31, 2021 to the home address you have listed in Access Stout. The amounts reported on your 1098-T tax document may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return. To review the Education Credit questions and answers, visit https://www.irs.gov/credits-deductions/individuals/education-credits-questions-and-answers.
Please note, in previous years, the 1098-T tax document included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) billed to your student account for the tax year. Due to a 2018 IRS tax reporting change, Box 1 will report the amount of QTRE you paid during the year, and Box 2 will be empty.
The University of Wisconsin-Stout is unable to provide you with individual tax advice. If you have questions, you should seek the counsel of an informed tax preparer or adviser.
Below is a blank sample of the 2020 1098-T tax document for your general reference. For more information visit https://www.irs.gov/forms-pubs/about-form-1098-t.