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American Opportunity and Lifetime Learning Credits - Form 1098T
1098T forms are securely emailed to all qualified ETSU students via etsu.edu e-mail. Additionally you can obtain an IRS printable document through Goldlink/Tax Documents.
1098T - Box 1 Reporting
ETSU sends 1098T information to students each year. Beginning with the 2018 tax year the IRS requires ETSU to report Box 1 “Payments Made on Qualified Charges Billed.” The Box 1 amount will cap at the amount qualified tuition and related fees charged with a transaction date during the tax year. Previous tax years, ETSU reported Box 2 Qualified Charges Billed.
1098T - Requirements
You will not receive a 1098T form is one or more of the following occur:
- Box 5 (scholarships & grants) is greater than Box 1 (payments received for qualified tuition and related expenses)
- You withdrew during the semester you attended ETSU
- You are classified as a Non Resident Alien
The IRS allows a tax credit to be claimed for out-of-pocket payments made to ETSU during the year for tuition and certain fees. The IRS requires that we provide the 1098-T statement to you to use in completing IRS Form 8863 unless one of the situations mentioned above exists.
1098T - Box Descriptions
- Box 1: Payments received for qualified tuition and related expenses
- Box 2: Amount billed for qualified tuition and related expenses (no longer reported)
- Box 3: Checkbox for Change of Reporting Method
- Box 4: Adjustments Made for Prior Year (Not reported on 2018 – 1098T form)
- Box 5: Scholarships/Grants
- Box 6: Adjustments to Scholarships/Grants in Prior Year (Not reported on 2018 form 1098T.)
- Box 7: Amounts for Academic Period Beginning in January to March in future academic year
- Box 8: At least half-time student
- Box 9: Graduate student
- Box 10: Insurance Contract Reimbursements or Refunds
1098T - FAQs
Why did ETSU send a '1098' statement to me?
ETSU sends a 1098T form to students with payments made on qualified tuition and fees (Box 1) in excess of scholarships and grants (Box 5). The 1098T is used to report qualified tuition, fees and related expenses that may be eligible for Education Credits.
Does that mean I am eligible to claim the amount in Box 1 as a tax credit?
Not necessarily. There are exclusions. Consult your tax accountant on computing and claiming the credit.
Who can claim the credits?
It depends upon your dependency status. Consult your tax advisor.
Can I claim other fees paid (housing rent, meal plan, books and supplies) for the tax credit?
Amounts for these items generally do not qualify for tax credits.
Should I mail my copy of 1098 to the IRS?
You should consult your tax advisor or Pub. 970, Tax Benefit for Higher Education for more information on documenting the tax credit.
Whom should I call if I have further questions regarding these educational benefits for taxpayers?
ETSU is providing this information to help you determine if you may be eligible for these educational benefits for taxpayers. However, ETSU may not provide tax advice or make a determination regarding your eligibility to claim these benefits. Contact the IRS, call 1-800-829-1040, or your tax advisor for questions regarding eligibility to claim these credits.
Detailed Explanation of IRS Form 1098-T
- The IRS Form 1098-T is an information form filed with the Internal Revenue Service.
- The IRS Form 1098-T that you received reports amounts paid for qualified tuition and related expenses, as well as other related information.
- You, or the person who may claim you as a dependent, may be able to take either the tuition and fees deduction or claim an education credit on Form 1040 or 1040A for the payments made for qualified tuition and related expenses paid during the calendar year.
- There is no need to attach Form 1098-T to your tax return.
- All information and assistance that East Tennessee State University can provide to you is contained in this notice.
- There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.
- See IRS Form 8863 or IRS Publication 970 for more information.
Payments made for qualified tuition and related expenses billed.
Box 1 of Form 1098-T reports the payments made for qualified tuition and related expenses billed to you during the calendar year. Qualified tuition and related expenses are sometimes referred to as qualified education expenses, although the terms are not always interchangeable. For purposes of the Form 1098-T provided by East Tennessee State University, the following categories of charges are included or not included in qualified tuition and related expenses:
|Qualified Tuition and Related Expenses|
East Tennessee State University is required to report payments made (Box 1) on qualified tuition and related expenses that were billed during the calendar year. In general, qualified tuition and related expenses are considered to be billed when you register for classes.
Qualified Tuition and Related Expenses Reduced by:
- Current year reductions in billed amounts for semesters billed during the calendar year. For example, a reduction due to withdrawal from classes. The reductions may or may not have resulted in a refund, depending on whether the billed amounts had been paid prior to the reduction.
- Tuition charges waived during the calendar year due to the student's status as a benefits eligible ETSU faculty or staff member or the spouse or dependent of an ETSU faculty or staff member.
- Tuition charges waived during the calendar year due to the student's status as an eligible research or teaching assistant/associate.
The amount shown in box 2 for qualified tuition and related expenses billed during the calendar year may represent an amount that is different from the amount actually paid during the calendar year, although for many students the amounts will be the same. Under section 25A of the Internal Revenue Code and the associated regulations, a taxpayer may take a tuition and fee deduction or claim an education tax credit only with respect to qualified tuition and related expenses actually paid during the calendar year.
Adjustments made for a Prior Year
Box 4 of Form 1098-T reports adjustments made to qualified tuition and related expenses reported on a prior year Form 1098-T in Box 2. The amount reported in Box 4 represents a reduction in tuition billed during a prior calendar year.
Scholarships or Grants
Box 5 of Form 1098-T reports the total of scholarships or grants administered and processed by the ETSU Financial Aid and Scholarship Office during the calendar year. The amount reported in Box 5 does not include:
- Tuition waivers provided during the calendar year due to the student's status as a benefits eligible ETSU faculty or staff member or the spouse or dependent of an ETSU faculty or staff member.
- Tuition waivers provided during the calendar year due to the student's status as an eligible research or teaching assistant/associate.
- Student loans, for example subsidized, unsubsidized, PLUS, Perkins, and alternative loans.
- Scholarships, grants, reimbursements or other types of sponsorships not administered or processed by ETSU.
Adjustments to Scholarships or Grants For a Prior Year
Box 6 of Form 1098-T reports adjustments made to scholarships or grants reported on a prior year Form 1098-T in Box 5. The amount reported in Box 6 represents a reduction in scholarships or grants reported for a prior calendar year. The amount reported in Box 6 for adjustments to scholarships or grants may affect the amount of any allowable tuition and fees deduction or education credit you may claim for the prior year. See IRS Form 8863 for how to report these amounts.
Additional Information Reported
There are three additional information boxes that may have a check mark in them.
Box 7 indicates, if checked, that Box 2 includes amounts for an academic period beginning in the next calendar year. For example, if you registered for the upcoming Spring semester during November or December, this box will be marked.
Box 8 shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at ETSU for at least one academic period during the calendar year. If this box is marked, you may meet one of the requirements for the American Opportunity tax credit, lifetime learning credit or tuition and fees deduction.
Box 9 shows whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential.
Attaching Form 1098-T to Your Tax Return
You are not required to attach IRS Form 1098-T to your tax return. The IRS Form 1098-T is not like the IRS Form W-2 obtained from your employer, which is required to be attached to the tax return filed with the IRS. The primary purpose of the IRS Form 1098-T is to let you know that ETSU has provided required information to the IRS to assist them in determining who may be eligible to claim the tuition and fee deduction or an education credit.
The above information was developed to assist taxpayers with understanding the Hope and Lifetime Learning tax credits. Content displayed on this webpage does not represent an IRS document, nor does it represent tax advice from East Tennessee State University and should not be construed as tax advice. The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, IRS Publication 970, and IRS Form 8863. For more information refer to IRS Pub. 970-Tax Benefits for Higher Education or consult your tax consultant.