Per IRS regulations, all students, including dual-enrolled/concurrent students, are issued a Form 1098-T tax information form each year they attend/participate in higher education credit-bearing courses. The college is required to report all eligible payments made to the college for the tax year that are received from all sources. This includes payments made by the K-12 schools to the college for the student's college costs. If the taxpayer paid any college costs out of pocket for the tax year, the taxpayer can use their receipts to claim any eligible educational credit on tax forms. The 1098T is simply an information form and is not required to be used for tax purposes. If the taxpayer did not pay out of pocket for college costs, they would not use the form to claim education credits. IRS Publication 970 is available online for an explanation of education tax credits.
Please reach out to Aims Community College at 970-339-6576 for additional information.
