Frequently Asked Questions Regarding 1098Ts

» What is the 1098T Tuition Statement?
» What tuition and fees are included on this form?
» What is reported in Scholarships & Grants?
» Do I have to use this figure to claim the tax credit?
» Who can help me determine what to report?
» How can I find out more information?
» How can I find out what I was charged and/or paid in 2012 so I can do my taxes?
» How can I get a duplicate 1098T?

Q: What is the 1098T Tuition Statement?

It is a statement of related tuition expenses in the previous calendar year.

Q: What tuition and fees are included on this form?

Included on this form are any charges assessed to your account during the 2012 calendar year.

Q: What is reported in Scholarships & Grants?

Report all scholarship and grant payments made to your account—not loans.

Q: Do I have to use this figure to claim the tax credit?

A 1098T is provided to assist you in figuring your tax credit. It is only one piece of several educational expenses you should consider. Form 8863 (Education Credits) does NOT ask you to report this amount. You report expenses based on your own financial records.

Q: Who can help me determine what to report?

Please consult with your tax advisor if you have questions regarding your eligibility for a tax credit. Becker College staff members cannot advise you on tax-related issues.

Q: How can I find out more information?

• IRS Publication 970 (a 71-page guide)
• Contact your local tax advisor
• www.irs.gov

Q: How can I find out what I was charged and/or paid in 2012 so I can do my taxes?

Refer to your personal financial records for this information, or review monthly statements sent to you by the College.

Q: How can I get a duplicate 1098T?

You can log on to your InSite account and view/print your 1098T information.