Form 1098-T is an IRS tax document your university prepares each year, as required by federal law, to report qualified tuition and related expenses. Together with your personal financial records, it helps you and your family determine whether you qualify for valuable education tax credits.
If you or your parents paid tuition to California Intercontinental University during the year, you’ll receive an email by January 31 with a secure link to your Form 1098-T. This message will come from our trusted third-party partner, ‘Track 1099,’ and will be sent to the personal email address you provided.
To explore the education credits you may qualify for, review IRS Form 8863 – Education Credits, Instructions for Form 8863, and IRS Publication 970 – Tax Benefits for Higher Education.
For detailed guidance, visit the official IRS website.
Universities report the total qualified tuition and related expenses each year using Form 1098-T. By law, you’ll receive this form by January 31 of the year after your payments.
Here’s what you need to know about your Form 1098-T—and how it helps when you file your federal tax return.
There are some instances when your college doesn’t need to send a 1098-T, including …
· A course you took didn’t offer an academic credit
· You’re a nonresident alien
· Your school waived your tuition and expenses, or they were covered entirely by scholarships
· An employer or a government agency, like the Department of Veterans Affairs or the Department of Defense, covered your tuition and expenses entirely
If you expected a Form 1098-T but haven’t received it, contact CIU to confirm the email address we have on file.
Tuition is an investment, but tax credits can make it more manageable. Your Form 1098-T provides key information that may help you claim education benefits. To learn more, see IRS Publication 970.
The IRS uses these forms to match data from information returns to income, deductions and credits reported on individual income tax returns. So, if a taxpayer claims an education credit on their federal income tax return and the IRS doesn’t have a 1098-T in its system for them, then the IRS could follow up with that taxpayer to ensure they’re actually eligible for the credit.
Educational institutions that are eligible to participate in the Department of Education’s student aid programs can issue Form 1098-T, including colleges, universities, vocational schools, and other eligible post-secondary education institutions.
Colleges, universities and other institutions that issue Form 1098-T are required to provide a copy of the form to the student by January 31st of the year following the tax year in which the expenses were paid. So, a 1098-T for tuition paid in 2021 is supposed to be in the student’s hands by January 31, 2022. If you, or your parents, have paid qualified tuition expenses during the tax year, you will receive an email with a link to access your Form 1098-T online by January 31, 2022.
The form isn’t due to the IRS until March 31st when filed electronically. This way, if a student receives an incorrect 1098-T, they could have time to contact the college or university and request a correction before the school sends the information to the IRS.
Form 1098-T doesn’t have a minimum threshold. Schools are required to issue this form if you paid any qualified education expenses, like tuition, fees or course materials that are required for enrollment – with some exceptions
Form 1098-T is a relatively short form — it has 10 numbered boxes plus basic identifying information.
Here’s what’s included in each box used by CIU:
· Filer information: On the left side of the 1098-T, the school issuing the form includes its name, address, telephone number and tax identification number. There’s also a box to include the student’s account number.
· Student information: Also on the left side of the form are boxes for the student’s name, address and tax identification number (like a Social Security number).
· Box 1: This box shows the total amount of all payments the school received from you for qualified tuition and related expenses during the calendar year — minus any refunds or reimbursements.
· Boxes 5: This box shows scholarships or grants that the school processed and applied to your tuition during the tax year.
· Box 8: If you’re enrolled at least half-time during any academic period that began in the calendar year, the school should check this box.
· Box 9: This box indicates whether you were a graduate student.
When you’re ready to file your federal income tax return, make sure you have your Form 1098-T on hand — if you received one. It can help you calculate two potentially valuable education credits — the American opportunity tax credit and the lifetime learning credit.
Didn’t receive your Form 1098-T by January 31? Complete the request form below and we’ll help you right away.
