Form 1098-C Dayton Ohio 2025

Form 1098-C Dayton Ohio: What You Should Know

This form is also issued for faculty, staff, and other qualified organizations that paid the University tuition for the previous tax year. Qualified educational expenses includes fees that were not mandatory or incurred during the taxable year. For more information about taxable income, see Publication 936, Tuition and Fees, which is on the IRS website Taxable Income. If you itemize your deductions on Schedule A, you may deduct qualified education expenses. Qualified education expenses include student fees.  Qualified education expenses are any expense that is paid for in whole or in part by the student. They do not include tuition, insurance premiums, room and board fees, fees paid for medical, dental, or vision expenses, or school supplies such as notebooks or computer equipment. They also do not include supplies that would normally qualify for the education tax credit under section 529(a). Example. Your student paid 5,000 in tuition fees this year. He also contributed 3,000 to an individual retirement account (IRA) so he can withdraw up to 5,000 from it each year. Your student is a taxpayer, and therefore you are responsible for any qualified education expenses deducted on Schedule A. Do not deduct any expenses for books, supplies, or other instructional material. If you do not itemize deductions, you will generally be able to deduct the cost of textbooks, student fees, a computer, and other such non-cash expenses. However, no deductions are allowed for tuition and fees. Therefore, if you are planning to send your students to a school which only pays tuition and fees, you may want to ask your students to sign a contract in effect before they enroll to deduct the cost of books, supplies, and materials. Qualified educational expenses include fees that were not mandatory or incurred during the taxable year. For more information about taxable income, see Publication 936, Tuition and Fees which is on the IRS website. Example. Let's assume that you pay 7,000 a year for a Ph.D. program at University of Dayton College of Pharmacy and Pharmacy Technology.

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