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How to complete Step 4 Offset Your Expenses

🎯 Academic expenses

ℹ️️ If you're a student who used taxable scholarship funds from your 1042-S form(s) and paid for 2025 education expenses like supplies, books, course fees, or equipment, you might be eligible to claim these costs.

📢 IMPORTANT: Expenses are allowed only if paid from the scholarship amount on your 1042-S form(s). Keep all receipts for audit purposes.

❗If you do not have such expenses for 2025, leave the fields blank.
➡️ If you received a scholarship reported on a 1042-S form and used it for tuition, supplies, books, or other course-related expenses, enter the amounts here.

 

 

 

 

 

 

 

 

👉 Did you pay interest on a qualified student loan?

ℹ️️ A qualified student loan is a loan used only for qualified education expenses. If you paid interest on such a loan in 2025 and were an eligible student (enrolled at least half-time in a degree, certificate, or credential program), you may be able to claim the interest reported on Form 1098-E, box 1.

 

🎯 Other expenses

☝️ If you have made charitable contributions throughout 2025, you may be eligible to claim them as an expense.

ℹ️️ You can deduct donations to U.S. organizations that are religious, charitable, educational, scientific, literary, or work to prevent cruelty to children or animals.

 

💡 To verify an organization's charitable status, you can do the following:

👉 Check with the organization to which you made the donation. The organization should be able to provide you with verification of its charitable status;

👉 Use IRS’ online search tool at IRS.gov/TEOS to see if an organization is eligible to receive tax-deductible contributions;

🚩 IMPORTANT: You need to keep all receipts for your expenses in case of an audit. If you did not make charitable contributions, leave the fields blank.

🎯 Health insurance payments

ℹ️️ If you received Form 1095-A or want to claim the Premium Tax Credit, you must complete Form 8962 and attach it to your tax return. This requires offline preparation of your Federal return. Please email your 1095-A form to iie@sprintax.com

▶️ Were you enrolled in a qualified health plan(s) purchased through the Federal Health Insurance Marketplace or relevant State Marketplace?


▶️ Were you eligible for Minimum Essential Coverage (MEC)for the period you were enrolled in the qualified health plan(s)?

▶️ Were the Enrollment premiums paid by the due date of your tax return, not including extensions?

⚠️ NOTE: Depending on your selection you may be prompted to answer additional questions to determine your eligibility for the Premium Tax Credit. If you're unsure about any of these questions, please contact your Healthcare provider for more information.

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