IRS Form 1098-T, is entitled "Tuition Statement," and contains information to assist the IRS and you in determining if you are eligible to claim educational related tax credits such as the American Opportunity Credit and Lifetime Learning Tax Credit.
The Tax Relief Act of 1997 states that educational institutions, such as California State University, East Bay, are required to file informational returns with the IRS indicating a student's enrollment, and report either amounts billed, or payments received for qualified tuition and related expenses.
The 1098-T the student receives in the mail is the information that was sent to the IRS by California State University, East Bay. This form is an informational return for your personal records, and is not required to be submitted with your tax return.
There are several reasons why a 1098-T may not have been required to be generated or why you did not received the form:
If California State University, East Bay was required to produce a form for you, it will mail out, or made available electronically, by January 31st. The fastest way to receive a 1098-T is for students to log onto the student center through my.csueastbay.edu in the portal and access it electronically.
CSU, East Bay reports in Box 2, amounts billed for qualified tuition and related expenses. We do not report payments received; please retain your receipts for proof of payment.
Not necessarily. Determination of eligibility is the responsibility of the taxpayer. The University is required to file 1098-T with the IRS and to mail a copy to each student who was billed for qualified tuition and related expenses.
It’s important to note the school cannot provide individual income tax advice. If you have any 1098-T tax-related questions regarding the tax credit, eligibility, reporting your tax credit on your tax return, etc, please contact a tax professional or the IRS.
You or your parents may be eligible for the educational tax credits on your tax return. The Taxpayer Relief Act of 1997 created two educational tax credits for students and families, the American Opportunity Credit and the Lifetime Learning Tax Credit.
The web links below provide more detailed information about the Hope Tax Credit and the Lifetime Learning Tax Credit.
This information is not intended as legal or tax advice. Individuals should obtain IRS Publication 970, "Tax Benefits for Higher Education," or contact a tax practitioner about personal income tax situations.