I am filing my taxes via TaxAct, and I am not sure whether my 1098-T Copy B (for students) needs to be reported. On my Copy B it states "This is important tax information and is being furnished to the Internal Revenue Service."
It also states "A college or university that received qualified tuition and related expenses on your behalf is required to file Form 1098-T, above, with the International Revenue Service. A copy of the Form 1098-T must be furnished to you."
Moreoever, it states "Keep for your records." That doesn't tell me whether I have to file.
With that being said, do I need to include this information when I file or has it already been taken care of?
Update:
(a) From http://www.irs.gov/pub/irs-pdf/f1098t.pdf - "This form is provided for informational purposes only."
(b) Page 2 of http://www.irs.gov/pub/irs-pdf/i1098et.pdf - "Who must file: You must file Form 1098-T if you are an eligible educational institution. An eligible educational institution that is a governmental unit, or an agency or instrumentality of a governmental unit, is subject to the reporting requirements of Form 1098-T. A designated officer or employee of the governmental entity must satisfy the reporting requirements of Form 1098-T." I am a person, not an institution.
(c) From https://turbotax.intuit.com/tax-tools/tax-tips/IRS-Tax-Forms/Guide-to-Tax-Form-1098-T--Tuition-Statement/INF22534.html - "Who gets the 1098-T form? - Schools must send the form to the student by January 31 and file a copy with the IRS by February 2."