17
Dec 2018
The numbers you see on your 1098T form may look different this year. That’s because colleges and universities are now required to report different information to the IRS.
In previous years, your 1098-T included the amount of qualified tuition and related expenses we billed to your student account for the calendar (tax) year. Due to a change in institutional reporting requirements under federal law, beginning with tax year 2018, we will report the amount of qualified tuition and related expenses you paid during the year.
Because this amount may be different, you should seek the counsel of an informed tax preparer or adviser.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. You can find detailed information about claiming education tax credits in IRS Publication 970 (pdf), page 9.
In previous years, your 1098-T included the amount of qualified tuition and related expenses we billed to your student account for the calendar (tax) year. Due to a change in institutional reporting requirements under federal law, beginning with tax year 2018, we will report the amount of qualified tuition and related expenses you paid during the year.
Because this amount may be different, you should seek the counsel of an informed tax preparer or adviser.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. You can find detailed information about claiming education tax credits in IRS Publication 970 (pdf), page 9.