502-7-1098-T
|
|
|
|
|
Student Financial Services
|
|
|
|
Policy: United States University (USU) provides the 1098-T form each year to eligible students who have paid qualified tuition and related expenses. The 1098-T form can assist the student with filing for education tax credits, however, it does not guarantee eligibility of an educational tax credit. Detailed information about claiming education tax credits and eligibility criteria can be found in IRS Publication 970.
Information provided
The IRS requires all colleges and universities to report payments for qualified tuition and related expenses received. Qualified tuition and related expenses are defined as tuition and certain relate expenses required for enrollment or attendance at an eligible educational institution. Students’ fees and expenses for course-relate books, supplies, and equipment are included in qualified related expenses only if the fees and expenses must be paid to USU as a condition of enrollment or attendance.
Unqualified expenses include health insurance, transportation, housing, or other similar personal living, or family expenses.
Purpose: The purpose of this policy is to outline the requirements for United States University to provide the 1098-T to students and to the IRS.
Scope: This policy applies to all eligible students who are enrolled in an eligible degree program.
Document and Form(s):