Please consult a tax expert for information about how to claim these expenses on your taxes.
In accordance with requirements of the Tax Relief Act of 1997, the 1098-T tax credit form is intended to provide you with information to assist you in determining your eligibility for possible Hope Scholarship or lifetime learning credits. This form will be available before Jan. 31 each year through MyUB. (See "How to Access Your 1098-T " below.)
We recommend you contact a tax adviser when determining your qualified tax credit amount.
Students can obtain more information about student loan interest deductions, lifetime learning credits and Hope Scholarship credits from the IRS. For additional information, reference IRS Publication 970, Tax Benefits for Higher Education and Publication 520, Scholarships and Fellowships , also available by calling 1.800.TAX.FORM.
Please note, that IRS Form 1098-T is for informational purposes only. The data which appears on these forms can be used to claim educaional tax credits, but the figures provided neither guarantee nor preclude eligibility for these tax credits. "Qualified tuition" in this context is determined by guidelines issued by the IRS. This may or may not reflect "qualified tuition" as determined by certain educational funding organizzations, such as 529 plans. As a result of differing definitions as to what constitutes "qualfied tuition". there may be variation among the amounts that are deemed to qualify.
Students eligible to receive a 1098-T are able to access the document through MyUB. The Office of Bursar does not mail 1098-T forms to students. If you have questions or concerns about this matter, please contact us.
All tuition and mandatory fees billed during the calendar year are qualified expenses. Billed charges are reported, but UB does not report on paid charges.
This includes all scholarships posted to your account during the calendar year, including Pell, SEOG and tuition waivers.
You are not eligible to receive one if: