1098-T TAX FORM
AMERICAN OPPORTUNITY AND LIFETIME LEARNING TAX CREDITS
1098-T Tax Information Tax Relief Act of 1997
Vincennes University will not be able to answer any tax questions or offer any tax advice. Please do not ask us to interpret the financial data that you may use to claim a tax credit.
The IRS requires that we provide the 1098-T statement to you for your use in completing IRS Form 8863. Detailed information of charges, payments, grants and scholarships (which you will need) is available by accessing VU-x. This information must not be construed as tax advice. The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863, and, perhaps, the advice of a tax consultant.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
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.)
Vincennes University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
Exact payment dates may be found on VU-x under the Student Account card by clicking Statement & Billing and then View Account
Summary.
The IRS follows the calendar year (Jan 1, 2023- Dec 31, 2023). The University bills
Spring term for early registrants in November of the preceding year. There is a check
box on the form indicating this is for a future term.
Visit IRS.GOV for information regarding these tax for a complete listing of eligible expenses.