Tax Info

General Information

The tax code provides a variety of tax incentives for families who are saving for, or already paying, higher education costs or are repaying student loans.   Information on the various tax credits available can be found in IRS Publication 970.  The most current version of the form can be found at the IRS website Tax Benefits for Education Information Center.

In late January of each year, an IRS form 1098-T is generated, and an email notification with instructions is sent to students who qualified during the previous calendar year.  UofL has contracted with Heartland ECSI to email the IRS 1098-T forms to our student and provide web access to the IRS 1098-T information supplied to the Internal Revenue Service.

In previous years, IRS Form 1098-T included a figure in Box 2 that represented the qualified tuition and related expense (QTRE) the university billed to the student account for the calendar (tax) year.  Due to a change to institutional reporting requirement under federal law, beginning with tax year 2018, the university will report in Box 1 the amount of QTRE  paid during the year.

Depending on the student's income (or family income, if the student is a dependent), whether the student is considered full or half-time enrolled, and the amount of qualified educational expenses for the year, the student may be eligible for a federal education tax credit.  (Student or their family can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)

The dollar amounts reported on the Form 1098-T may assist in completing the IRS Form 8863 - the form used for calculating the education tax credits that a taxpayer may claim as part of their tax return.

The link provided below is a sample of the 2018 Form 1098-T, that students with qualified tuition and related expenses will receive in January 2019, for your general reference. 

For more information about Form 1098-T, visit http://www.irs.gov/pub/irs-pdf/f1098t.pdf.

On-line access to the 1098-T information is available at Heartland ECSI. You will need your SSN to access the information.  You will ONLY have access to review and print your 1098-T.

Disclaimer

The University of Louisville is not qualified to provide legal and/or tax advice. The information provided may or may not reflect recent revisions in IRS regulations. For tax advice on your specific situation, contact a tax professional. For additional information regarding the education tax credits you can call the IRS at 1-800-829-1040. You can also refer to Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits) for more information regarding how to calculate and claim the education tax credit and the loan interest deduction.

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