Student Financial Services Office - 1098T Information
The federal government provides two types of tax credits for educational expenses paid by you during the tax year. However, not all expenses you pay to the University are considered qualified expenses. In general tuition and fees that are directly related to your attendance and education are allowable. Room and board, insurance and other personal expenses are generally not allowed. You should review the IRS Publication 970 for more information - or you may consult your tax professional.
Students access their form online via myWings, Student Records, Student Self-Service, Financial Records, Tax Information (1098T). Enter the tax year and the form will display.
Depending on your income (or your family's income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)
The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 - the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.
The University of North Florida is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.
The following FAQ is provided to assist you with some of the general questions that you may have regarding the 1098T form and is not intended to be provided as advice in completing your tax return.
Some Frequently Asked Questions
Educational institutions are required to report to students the amounts of qualified tuition expenses that were billed to them during the 2019 calendar year. This form will assist students in determining if they qualify for an educational tax credit.
Box 1 is the amount paid for qualified tuition and fees; the amount includes payments from all sources, not just the amount the student paid him or herself. The amount of tuition and fees will be reduced by any waivers or exemptions received.
Box 2 reports the amount of qualified tuition and related expenses that were assessed to your account during the 2019 calendar year; this box will be blank as we are not reporting box 2.
Box 3 reports on whether or not the University has changed its reporting method. The IRS is mandating all schools report Box 1; this will be a change for the University so this box will be checked.
Box 4 reports on any adjustments made during the 2019 tax year for qualified tuition and related expenses that were reported on a prior year 1098T. Since we have changed our reporting method this year, this will be blank.
Box 5 reports the amount of grants, third party sponsorships, scholarships and exemptions you received during the 2019 calendar year. Generally students will subtract this amount from the amount in Box 1 to determine if they qualify for an educational tax credit.
Box 6 reports the amount of any adjustments made during the 2019 tax year for grants, waivers and scholarships you received in a prior tax year.
Box 7 is checked to notify you and the IRS that some of the amount indicated in Box 1 relates to a semester that begins in the first quarter of 2020.
Box 8 will be checked if you were enrolled at least half-time for one semester during the 2019 calendar year (if spring 2020 is your first semester the box will not be checked).
Box 9 will be checked if you are a graduate student. This will identify you as already having a bachelor's degree.
The American Opportunity (formerly Hope Scholarship) Credit is available for the first four years of post-secondary education. If you meet the requirements as a student you may qualify for a tax credits. You can claim 100 percent of the first $2000 you paid and 25 percent of the second $2000 up to a maximum of $2500 per eligible student. For example, if your expenses were $3000, your credit would be $2250. There is an income restriction and you should be aware that the credit is phased out for people in certain income tax brackets.
The Lifetime Learning tax credit is available to everyone. You may claim 20 percent of the first $10,000 paid ($2000 maximum) and that is per tax return, not per student. There are also income restrictions on the Lifetime Learning tax credit.
Comparison of Education Credits
|American Opportunity (formerly Hope Scholarship) Credit
||Lifetime Learning Credit
|Up to $2500 credit per eligible student
||Up to $2,000 credit per return
|Available ONLY for the first 4 years of post-secondary education are completed
||Available for all years of postsecondary education and for courses to acquire or improve job skills
|Available ONLY for 4 tax years per eligible student (including any years the Hope credit was claimed)
||Available for an unlimited number of years
|Student must be pursuing an undergraduate degree or other recognized education credential
||Student does not need to be pursuing a degree or other recognized education credential
|Student must be enrolled at least half time for at least one academic period beginning during the year
||Available for one or more courses
|No felony drug conviction on student's record
||Felony drug conviction rule does not apply
|Qualified expenses include tuition and fees required for enrollment, books, equipment and supplies (books do not need to be purchased at the institution)
||Qualified expenses include tuition and fees required for enrollment, and course-related books, equipment and supplies required to be paid at the institution
|Payments for the qualified expenses made in 2019 for 2019 academic terms and terms beginning in the first 3 months of 2020
||Payments for the qualified expenses made in 2019 for 2019 academic terms and terms beginning in the first 3 months of 2020
Generally, you can claim an education credit if all three of the following requirements are met:
- You pay qualified education expenses of higher education.
- You pay the education expenses for an eligible student.
- The eligible student is either yourself, your spouse, or a dependent for whom you claim an exemption on your tax return.
For more information on these credits, please check these websites--IRS Tax Information for Students and Tax Benefits for Education.
Box 1 indicates the amount paid from any source; you need to keep your receipts to determine what you paid yourself. You can stop into the Student Financial Services Office for duplicate receipts of payments made in person. You can also go to myWings, Student Records, Student Self-Service, Financial Records, Account Summary. This screen will show the payments that were made to your account for each term.
The IRS determines what is considered qualified tuition and fees and some fees--health and transportation, for example--are not considered qualified tuition and fees according to the IRS. As a result, we exclude those amounts.
You can print another copy of your 1098T via myWings. Click on Student Records, Student Self-Service, FInancial Records, then Tax Information (1098T). Enter the tax year, the form will display.
There are a number of places for you to go to obtain additional information. Please note that the staff at UNF cannot assist you in determining the amount you can claim for a tax credit. Your tax professional should be able to help you determine if you qualify. In addition, you can call the IRS for assistance. Their toll free number is (800) 829-1040. The IRS also has a number of forms and publications that will help you. For instructions on the 1098T visit the IRS website.
For questions related to the amounts displayed on the 1098T please contact us.