1098-T Form Inquiry: What to Do If I Haven’t Paid My Tuition?
I enrolled in college for the Fall 2024 semester but have an outstanding tuition balance, and I haven’t made any payments yet. I found a 1098-T form, but it’s nearly empty. I know that I shouldn’t receive this form if I haven’t paid tuition or received financial aid. Should I report that I didn’t get the form, or should I acknowledge that I have it and just not fill in any information?
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When dealing with the 1098-T form, the key point is that it reports qualified tuition and related expenses that you have incurred or paid during the tax year. If you have not paid any tuition or received any scholarships or grants for the Fall 2024 semester, then it’s likely your 1098-T form will not report any amounts, leading to a blank form.
In your case, since you have an overdue balance and haven’t made any payments, you should still acknowledge that you received the 1098-T form, even if it is blank. The form itself reflects the school’s records, which may still include your enrollment status.
You can use the blank form to substantiate that you were enrolled but without any payments made or financial aid received. Just ensure you keep it for your records in case of any inquiries from the IRS or your school.
If you have questions about how to handle your tuition payments or how the 1098-T affects your taxes, it might be a good idea to consult a tax professional for personalized advice.