1098T Tuition Statement Information

Not necessarily.  The University is required to provide Form 1098-T to individuals for who qualified tuition and fees were received during the calendar year.  Determination of eligibility is the responsibility of the taxpayer.

You may be able to claim an American Opportunity Credit of up to $2,500 for qualified tuition and other educational expenses. The credit is available for the first 4 years of postsecondary education and 40% of the credit (up to $1,000) is refundable for many taxpayers. Students must be enrolled at least half-time during at least one academic period that begins during a tax year.

Yes, a student may qualify for both the American Opportunity Credit and the Lifetime Learning Credits at the same time. However, the qualifying expenses are the basis for claiming the American Opportunity Credit or Lifetime Learning Credit, but not both. In general, students who qualify for both the American Opportunity Credit and the Lifetime Learning Credit may find the American Opportunity Credit to be more beneficial.

Each individual must determine which, if any, of the expenses paid may be used in the calculation of the education tax credits. Generally the only qualified expenses are tuition and fees for enrollment or attendance less the net of scholarships, grants, and VA benefits. Please note that any amounts paid for room and board, insurance, medical fees, transportation, and similar living expenses are not considered eligible. If you have additional questions regarding these qualifications please contact your tax preparer.

Form 1098-T has been provided to assist in determining if you, or the individual who may claim you as a dependent, are eligible to claim an income tax credit on the previous year income tax return. You have received a 1098-T form if you have had any financial activity at Post University.

The Tax Relief Act of 1997 states that educational institutions are required to file informational returns with the IRS indicating payments received, for qualified tuition and related expenses. The 1098-T form the student receives electronically is the information that was sent to the IRS by Post University. The form is an informational return for your personal records, and is not required to be submitted with your tax return.

Post University’s Federal Filer’s identification number is 20-1003413.

The 1098-T no longer reflects amount billed. The Internal Revenue Service’s tax regulation indicates that a university is required to report any payments received for qualified tuition and related expenses less any related reductions in charges. Box 2 will always be blank.

If all of the boxes on your 1098-T reflect 0.00, you did not have any qualified tuition or related payments applied to your account between January 1 and December 31 of that tax year. 

For example, if you are a Spring graduate but you registered for your courses during pre-registration in December, that semester’s tuition charges were on your previous year’s 1098-T form.

Changes to your social security number must be made through the Office of the Registrar ([email protected]) or call (203)-591-7123.  You will need to provide a scanned copy of your social security card in order to process this request.

A corrected 1098-T will be sent to both the student and IRS from the Financial Aid department.

Funding provided as part of the CARES Act is not included in the 2020 1098T tax form.

The Advising team is happy to assist you with accessing the Student Portal, which is where the 2020 1098T form is available. You can contact the team at 203.568.1652 or [email protected].