1. What is the 1098-T form?
The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student’s name, address, and taxpayer鈥檚 identification number (TIN), enrollment and academic status. Beginning with 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not. A 1098-T form must also be provided to each applicable student.听This form is informational only.聽It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice. While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit.听There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.
2. What is new for tax year 2025?
There were no updates to the 2025 1098-T form.
3. Why did I receive a 1098-T and what am I supposed to do with it?
In January of each year, Abilene Christian University processes an IRS Form 1098-T to all students who had qualified tuition and other related educational expenses for the previous calendar year. The form is available on the student’s Wildcat Pay Portal. This form is informational only and should not be considered as tax opinion or advice. It serves to alert students that they may be eligible for federal income tax education credits. Receipt of Form 1098-T does not indicate eligibility for the tax credit.
Note:聽It is up to each taxpayer to determine eligibility for the credits and how to calculate them.
4. Did you send a copy of this form to the IRS?
Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the聽聽in determining eligibility for the American Opportunity Hope and Lifetime Learning education tax credits. Forms are mailed at the end of January of each year for the previous tax year.
5. What educational expenses are considered as qualified tuition and related expenses?
Included:
- Graduate and undergraduate tuition
- Most required course fees
- Assessment fees
- Books charged at the Campus Store
Not Included:
- Advances for books and other expenses that were issued directly to the student
- Application fees
- Course supplies
- Fees relating to travel
- Insurance fees
- Residence hall charges and meal plans
- Other non-academic fees, fines and expenses
For more information about qualified educational expenses, please see the IRS鈥櫬犅爓eb page and other related web pages.
6. What is the amount in Box 1?
The IRS instructs institutions to report payments received (Box 1) for the calendar year for qualified tuition and related expenses on the 1098-T. The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in Box 5.聽Included in this box is the receipt of payment of past-due qualified tuition or related expenses from a previous calendar year, but only if the University previously billed the student for such amounts.
7. What other information do I need to claim the tax credit?
While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. Most of the information needed must come from the student’s personal financial records of what the student paid during the calendar year. Additionally, each taxpayer and his or her tax advisor must make the final determination of qualifying expenses.
8. What are the American Opportunity Credit, the Hope Credit and the Lifetime Learning Credit and what are allowable tuition and fee tax deductions for each?
聽of the Hope Credit, Lifetime Learning Credit, and allowable tuition and fee tax deductions. Not all students who pay qualified expenses are eligible for a tax credit.听聽explains tax benefits for education.
9. I paid my qualified tuition and related expenses with student loans. Can I still claim a American Opportunity Hope or Lifetime Learning Tax Credit or the Higher Education Tuition and Fees Deduction?
Yes. Loan funds should be considered in the same manner as cash payments when calculating a American Opportunity Hope or the Lifetime Learning Tax Credit or the Higher Education Tuition and Fees Deduction. However, any scholarships, grants, or other non-taxable aid must be deducted from the amount of qualified tuition and related expenses paid. The credit is claimed in the year in which the expenses are paid, not in the year in which the loan is repaid.
10. If I pay college tuition and fees with a scholarship, can I claim an education credit on Form 8863 for those payments?
No. You cannot claim a credit for the amount of higher education expenses paid for by tax-free scholarships. For more information, please visit the聽.
11. Where can I find out more about educational tax credits and deductions?
For more information, please visit the聽聽or your tax advisor. Another source for some helpful information is the聽聽web page provided by the National Association of Student Aid Administrators (NASFAA).
12. My address listed on the 1098-T has changed. Will this affect me?
No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security Number.听Please call the Registrar’s office at 325-674-2300 if the SSN on the 1098T is incorrect. If you have received a notification from 精东影业 that your SSN is missing, you will not be able to claim the education tax credits on your tax return.
13. How do I get a reprint of my 1098-T form?
If you did not receive a 1098-T due to a change of address, or you misplaced the form, you can print a duplicate in聽.听Please be advised that 精东影业 will not mail any duplicates.
14. How can I get an itemized listing of my financial activity that is on my 1098-T form?
Account statements are available online on the聽. After logging in, follow this path to retrieve your account summary: Banner > Student & Financial Aid > Student Records > Account Summary by Term.
NOTE: Activity for several terms may be applicable to any given tax year.聽If you no longer have access to my精东影业, please call Wildcat Central at 888-588-6083 for assistance.
15. What is 精东影业’s Tax Identification Number?
The 精东影业 Federal Identification Number is聽75-0851900. This number can also be found on the 1098-T form in the middle left section.
16. What if I still have questions?
If you have additional questions/concerns you can reach out to us at:
贰-尘补颈濒:听wildcatcentral@acu.edu
笔丑辞苍别:听888-588-6083
17. I paid educational expenses in the last tax year. Why didn’t I receive a 1098-T in the mail?
Four common reasons for not receiving a copy of your 1098-T are:
- You elected to receive an electronic copy of Form 1098-T, which is available in聽.
- You are coded as a non-resident alien in the university’s student information system.听 精东影业 is not required to mail 1098-Ts to non-resident aliens.
- The sum of your offsetting scholarships and grants exceeded the sum of your qualifying charges for that tax year.听 精东影业 is not required to mail a 1098-T in this instance.
- The university does not have a valid US postal address for you on file in its student information system.
18. How relevant is Form 1098-T to my individual tax return?
The IRS requires universities to provide Forms 1098-T to assist students in gathering information for their tax returns. However, the IRS provides the following guidance to taxpayers claiming a deduction for tuition expenses in the instructions to聽:
You should receive Form 1098-T, Tuition Statement, from the college or university reporting payments received during the applicable tax year (box 1). However, the amounts in box 1 of Form 1098-T may be different from what you actually paid. On Form 8917, line 1, enter only the amounts you paid during the applicable tax year for qualified expenses (reduced, if necessary, as further described on Form 8917).
19. What information is available from the IRS to help me determine my educational tax credits or deductions?
滨搁厂听聽provides guidance on Form 1098-T and claiming credits or deductions for amounts聽actually paid聽during the applicable tax year.
20. Where can I find information on tuition and fees I actually paid?
The amounts paid on your account during any year are available through聽. After logging in, follow this path:聽My Account > Account Activity聽to select terms that would have account activity for the year that you need.听NOTE: Activity for several terms may be applicable to any given tax year.
21. If I am no longer a student, do I still have access to the Wildcat Pay Portal?
If you are unable to log in to聽, please contact Wildcat Central at 1-888-588-6083 for help in obtaining detailed account information.
Note:聽Please be advised that 精东影业 is prohibited from providing legal, tax, or accounting advice to students and we are not responsible for any use you make of this information.
The above information is not offered as tax advice and is merely a summary of our understanding of certain tax rules; it is not intended to be a comprehensive or authoritative guide on taxation. The above information, as it pertains to tax rules, is subject to changes in federal or state laws and related interpretations. All users of the above information should consult their own tax advisors or legal counsel for advice related to their particular income tax situation.