What is the 1098-T form?
The Form 1098-T, Tuition Statement, is issued to help determine if students or their parents are eligible to claim tax credits under the Tax Relief Act of 1997.
Who gets the 1098-T form?
Students who made out-of-pocket payments toward qualified tuition and related educational expenses for a given calendar year are eligible to receive the Form 1098-T.
How do I access the 1098-T form?
How_To_View_Form_1098-T_On_CUNYfirst-4What to do after you receive your 1098-T?
For Students who received a 1098-T, you or the one you are dependent on can use this document to claim as either “tax deductible” or “tax credit” if you qualify. Check in with your accountant for more information.
Will I receive 1098-T if I paid qualified payment but withdrew from classes?
Yes, per IRS regulations, you will receive a Form 1098-T for only the amount of qualified expenses that have not been refunded.
How can the Lifetime Learning Credit or American Opportunity Credit be claimed using the Form 1098-T?
For the American Opportunity Tax Credit, the eligibility are as follows according to IRS.
To be eligible for AOTC, the student must:
- Be pursuing a degree or other recognized education credential
- Be enrolled at least half time for at least one academic period* beginning in the tax year
- Not have finished the first four years of higher education at the beginning of the tax year
- Not have claimed the AOTC or the former Hope credit for more than four tax years
- Not have a felony drug conviction at the end of the tax year
To be eligible for LLC, the student must:
- Be enrolled or taking courses at an eligible educational institution.
- Be taking a higher education course or courses to get a degree or other recognized education credential or to get or improve job skills.
- Be enrolled for at least one academic period* beginning in the tax year.
Why didn’t I receive a Form 1098-T?
You may have received more scholarships and/or grants than the amount of qualified tuition and fees paid; the University is not required to produce a Form 1098-T.
My address listed on my 1098-T has changed. Should I be concerned about it?
According to CUNY, the IRS does not require that we report address changes for Form 1098-T purposes. However, even if you have consented to electronic delivery of Form 1098-T, it is still recommended you update your mailing address on CUNYfirst Self-Service to ensure that future Form 1098-Ts reflect the latest address.
