Educational Tax Credit (1098-T)
Iowa State University must file Form 1098-T, Tuition Statement for each student it enrolls and for whom a reportable transaction is made
There are 4 exceptions
- Courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program
- Nonresident alien students, unless requested by the student
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships
- Students for whom AR does not maintain a separate financial account and whose qualified tuition and related expense are covered by a formal billing arrangement between an institution and the student's employer or a governmental entity such as the Department of Veterans Affairs or the Department of Defense