Colleges and universities are required under Internal Revenue Code Section 6050S to issue the Form 1098-T for the purpose of determining a taxpayer's eligibility for various tax credits and/or deductions. The 1098-T Form provides the total dollar amount paid by a student in a calendar year towards qualified tuition and related expenses (or "QTRE"). 1098-T forms are required to be made available by January 31st after the applicable tax year. The 1098-T form is informational only and should not be considered as tax advice. The 1098-T helps to determine if the tax payer is eligible for federal income tax education credits such as the Lifetime Learning Credit and the American Opportunity Credit as part of their Federal Income Tax Return.
Current and former students can access their 1098-T form online through the Student Portal as soon as it becomes available each year.