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The 1098-T Hope and Lifetime Learning tax credit tuition statements are mailed to students in January. The data is also available to view online through MyOSU. Students can also view prior year 1098-T tax information online. You can find instructions for accessing your 1098T online here.
Great online resource for tax credit information: Tax Breaks for Higher Education.
In previous years, your 1098-T included an amount in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. QTRE includes only the mandatory enrollment fees. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount you paid during the year for QTRE.
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, page 9.)
The dollar amounts reported on you Form 1098-T may assist you in completing IRS Form 8863 - the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.
Oregon State University is unable to provide you with individual tax advice, but should you have any questions, you should seek the counsel of an informed tax preparer or adviser.
Below is a sample of the 2018 Form 1098-T, for your general reference. For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.
What is the information reported in the boxes?
What are some examples of qualified tuition and related expenses?
Qualified Tuition & Related Expenses
For more information please review Education Tax Credits and IRS Publication 970, for tax year 2018, when it becomes available.
Oregon State University employees cannot offer tax advice. However, if you have questions about the information provided on the 1098T form you may contact us.
The following are some of the resources available for tax information: