1098-T needed for education credit or tuition deduction
In order to claim an education credit or tuition deduction, a taxpayer must receive a 1098-T. Generally, students receive a Form 1098-T tuition statement, from their school by January 31.
For tax years beginning after Dec. 31, 2015, and expenses paid after that date for education furnished in academic periods beginning after that date, a taxpayer claiming the American Opportunity Tax Credit must report the employer identification number (EIN) of the educational institution to which the taxpayer makes qualified payments under the credit.
For expenses paid after Dec. 31, 2015, an eligible educational institution to which qualified tuition and related expenses were paid must include its employer identification number (EIN) on the information return (Form 1098-T) that it provides to the IRS.
For expenses paid after Dec. 31, 2015 for education furnished in academic periods beginning after that date, higher education institutions must report (on Form 1098-T) only qualified tuition and related expenses actually paid (rather than choosing between amounts paid and amounts billed, as under prior law).
Additionally, under the 2015 Trade Preferences Extension Act of 2015, for tax years beginning after June 29, 2015, as a condition for claiming the higher education credit under Code Sec. 25A (or the Code Sec. 222 tuition and fees deduction), a taxpayer must receive, or be treated as having received, a payee statement (generally, Form 1098-T, Copy B) that contains all of the information required to be included on the Form 1098-T information return filed with IRS, including the TIN of the student for whom the qualified tuition and related expenses were paid, or billed, for the tax year.