{"id":2279,"date":"2014-02-12T16:19:50","date_gmt":"2014-02-12T21:19:50","guid":{"rendered":"https:\/\/www.bates.edu\/financial-services\/?page_id=2279"},"modified":"2025-01-07T09:41:56","modified_gmt":"2025-01-07T14:41:56","slug":"1098-t-frequently-asked-questions","status":"publish","type":"page","link":"https:\/\/www.bates.edu\/financial-services\/costs-and-payment\/tax-information-and-benefits\/1098-t-frequently-asked-questions\/","title":{"rendered":"1098-T Frequently Asked Questions"},"content":{"rendered":"\n

What is Form 1098-T<\/h3>
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Form 1098-T is a record of the financial information reported by Bates to the IRS on a student’s behalf. The information on form 1098-T can be used to help you determine if you are eligible for education tax credits when filing a U.S. tax return.

<\/span>Only payments received and posted to the student\u2019s account in the relevant tax year (between January 1 and December 31) will appear on the 1098-T. Online payments are posted in real-time. Payments that are mailed or wired, including those sent by 529 plans, may take additional days to post. To assure these payments are applied in the current tax year, please allow for sufficient processing time. Bates is not able to alter or back-date payments.<\/i>
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When will the 1098-T be available, and how will I receive it?<\/h3>
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The 1098-T will be available by January 31 of the calendar year that follows the applicable tax year. For example, 1098-T forms for 2024 will be available by January 31, 2025.<\/span><\/p>\n\n\n\n

You can obtain an electronic copy of your 1098-T beginning in mid-January by following these instructions:<\/p>\n\n\n\n