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Student Tax Info
Form 1098-T is a tuition statement. It is an information return that colleges and universities are required to furnish to students to assist them in determining their eligibility for the American Opportunity and Lifetime Learning education credits or Tuition and Fees deduction.
Frequently, questions are raised regarding the appropriate handling of payments to students. Proper classification of student payments is significant as it directly impacts West Virginia University processing (Financial Aid, Payroll, Accounts Payable) and affects the individual's income tax withholding and reporting.