WHAT IS FORM 1098-T?
• IRS Form 1098-T is required to claim your Hope Scholarship Tax Credit, Lifetime Learning Tax Credit or Tuition and Fees Deduction if you are eligible. • IRS Form 1098-T is provided to all (U.S. citizen) students as a requirement of the Taxpayer Relief Act of 1997. All post-secondary schools must provide this information to the Internal Revenue Service, so that students (or taxpayers claiming students as dependents) may claim part of their tuition as an Educational Tax Credit on their Federal Income Tax Return. Beginning in tax year 2002, the IRS does not require post secondary schools to provide or report a 1098-T if total gift aid exceeds tuition. • The top third of the page you receive from NAU is your copy of IRS Form 1098-T. NAU also sends this information directly to the IRS. Do not attach this copy to your Federal Income Tax Return. Beginning tax year 2003, amounts will be reported to the IRS. *NOTE: NAU reports payment received (Box #1) rather than billed amount. • The bottom
MTU is required by IRS Section 1.65050S-1 to send Form 1098-T to students who were enrolled in courses for the calendar year and who had qualified tuition and required fees billed during the calendar year. The form is used to assist the IRS and students in determining eligibility for education-related benefits.
