Frequently Asked Questions
American Opportunity, Hope and Lifetime Learning Education Credits
1. Which fees are qualified and unqualified?
2. How do I get an application for the Hope Education Credit?
3. How much can I claim on my taxes? How do I know what to put on my tax return?
4. I do my own taxes and don't have a tax advisor. How do I find out what to do?
5. Which IRS form do I use to claim these educational tax credits?
6. I am on an installment payment plan for Spring 2013. How do I deal with that?
7. I took credit courses during 2012 but didn't receive an IRS Form 1098-T. Why not?
8. I lost my IRS Form 1098-T. What do I do now?
9. Should I attach the IRS Form 1098-T to my tax return when I mail it?
10. What information did U of L send to the IRS?
11. Why does U of L need my Social Security Number (SSN)?
12. I don't want to give the University my SSN. Can I still claim the education tax credits on my tax return?
13. Where can I get detailed information about these different tax credits?
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1. Which fees are qualified and unqualified?
Qualified fees include tuition and related course fees. Unqualified fees include everything else: housing; books; health insurance fees; late fees; parking permit charges; fines; etc.
2. How do I get an application for the Hope Education Credit?
There is no application for the Hope Education Credit . It is a tax credit available to some taxpayers, and is claimed when you complete your US federal income tax return. Please check with your personal tax advisor to see if you qualify.
3. How much can I claim on my taxes? How do I know what to put on my tax return?
The University can't give you tax advice. We comply with Federal regulations by annually sending an IRS Form 1098-T to the student in late January. In addition to the basic information reported to the IRS, we provide the student with some supplemental financial information about his/her qualified fees and grants/scholarships. Please consult your personal tax advisor for more information about your particular situation.
4. I do my own taxes and don't have a tax advisor. How do I find out what to do?
The University can't provide tax advice. You can contact the IRS by phone (1-800-TAX-1040) to ask questions or through their web site to obtain publications and forms. Another source of information would be any reputable tax preparation service.
5. Which IRS form do I use to claim these educational tax credits?
IRS Form 8863 (Education Credits) is used to calculate educational tax credits. IRS Publication 970 (Tax Benefits for Education) may be helpful to you.
6. I am on an installment payment plan for Spring 2013. How do I deal with that?
You may claim only those payments you actually made during 2012. If part of your spring fees were deferred into 2013 because of your payment plan, it is our understanding that those payments cannot be claimed until tax year 2013.
7. I took credit courses during 2012 but didn't receive an IRS Form 1098-T. Why not?
We send IRS Form 1098-T to most students who took credit classes during 2012. Spring 2012 Continuing Registration students whose eligible charges were assessed in calendar year 2011 DID NOT have their charges included in “Amount Billed” and may not have received a form. You also had to be considered at least a half-time student during one semester in 2011 to receive a form. Each year we receive a number of forms returned to us by the U.S. Postal Service because the address on file is no longer valid. Please contact the Bursar’s Office by email or by phone at 502-852-2308 if you believe you should have received a form but did not. Please be prepared to furnish your name, SSN (or student ID number), UofL-PIN and current address.
8. I lost my IRS Form 1098-T. What do I do now?
The taxpayer does not send the IRS Form 1098-T to the IRS when filing his or her taxes. You can use your bills and receipts as the backup to claim the credit. You can view the IRS Form 1098-T information . You will need to furnish your name and SSN. At the first login, you will be assigned a TCRS-PIN. You can also contact the Bursar’s Office by email or by phone at 502-852-2308 and request the information furnished on your IRS Form 1098-T. Please be prepared to furnish your name, SSN (or student ID number), UofL-PIN and current address.
9. Should I attach the IRS Form 1098-T to my tax return when I mail it?
No. The IRS Form 1098-T is an informational report to you only. You should keep it in your tax file as backup, along with copies of your bills and receipts from each semester.
10. What information did U of L send to the IRS?
Schools are required to provide the IRS with the same information that is reported on your IRS Form 1098-T.
11. Why does UofL need my Social Security Number (SSN)?
UofL is required to file information regarding assessment of qualified tuition and fees (IRS Form 1098-T) with the IRS and the IRS requires us to furnish the SSN if available.
12. I don't want to give the university my SSN. Can I still claim the education tax credits on my tax return?
Without your SSN, the university cannot properly report your qualified tuition and fees to the IRS. Please discuss your situation with your tax advisor.
13. Where can I get detailed information about these different tax credits?
IRS Form 8863 (Education Credits) is used to calculate educational tax credits. IRS Publication 970 (Tax Benefits for Education) may be helpful to you. You can contact the IRS by phone at 1-800-829-1040 or through their web site .
