The 1098-T is a record of the financial information reported by Harvard to the IRS on a student's behalf. The information on form 1098T can be used to help you determine if you are eligible for education tax credits when filing a U.S. tax return*. The information includes the total amount paid for qualified tuition and related expenses in a calendar year (Box 1) and the total amount of scholarships or grants disbursed in the calendar year (Box 5). Related expenses do not include charges for room, board, insurance, health fees, transportation or similar expenses. You will not receive a 1098-T if your scholarships or grants (including third-party sponsor payments) exceed your qualified tuition and expenses.
*If another individual claims a student as a tax dependent, or is responsible for filing their taxes, it is very important that they are forwarded a copy of the 1098-T.