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Form 1098-C UT: What You Should Know
This form is not for students for whom you do not or cannot pay tuition and related expenses. OSU is required annually to provide the 1098-T to all those who enroll for more than three semesters at OSU on an academic semester basis. OSU is required annually to furnish a Form 1098-T to all taxpayers who are required to file Form 1099-MISC, Miscellaneous Income. 1098-T: OSU This form is intended to assist you, or your parents, in the preparation of your federal income tax return to see if you are eligible for two tax credits: the 1098-T Frequently Asked Questions (FAQ) | Oklahoma State University This is not a tax return and is only filed on an individual or business basis. (A business owner filing for state unemployment insurance benefits must file a separate income tax return.) You must present the 1098-T to an IRS agent when your tax return is being processed. If you receive a Form 1098-T form that is not filled out correctly, you may be able to obtain the missing information you'll need to fill out the form. The Form 1098-T indicates an amount owing for tuition and related expenses, reported on a tuition or fee account, or reported in a box. The amount on the form also indicates what tax filing status you have. For U.S. citizens, the 1098-T shows whether the amount is included in income or will be refunded; and for foreign citizens who are physically present in the U.S., the 1098-T shows whether the amount is included in income or has been refunded. The Form 1098-T also shows the date of the year the amount was reported and the date(s) that the date of the payment is being withheld. The form shows your name, your gender, and date your account was open. It also indicates whether the amount was reported under the following headings: FICA, FTA, or state income taxes. The Form 1098-T also states whether the amount was excluded from income in a prior year. If the amount is not excluded, then there are two possible amounts to write: Excluded amount — If the amount is included in income, the Form 1098-T indicates the amount owing. This means that you must file a federal income tax return with the amount owing included.
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