Mount Mercy University cannot provide tax advice. Please refer to relevant IRS forms and publications, or consult a tax advisor for explanations regarding eligibility for and calculations of any allowable tax credits or deductions.
If you (or your spouse) were a nonresident alien for any part of the calendar year and the nonresident alien did not elect to be treated as a resident alien, you are not eligible for the education credits.
The purpose of the 1098-T is to help you and/or your tax professional determine if you are eligible for the American Opportunity Credit or the Lifetime Learning Credit.
Remember, the 1098-T is purely informational. It should NOT be attached to your federal income tax return (like a W-2 is), however, you must have received this form to claim the American Opportunity Credit or the Lifetime Learning Credit on your federal tax return.
PLEASE NOTE: The amounts on your 1098-T form are for your information and may or may not be what you report on your federal tax return. Please consult your payment records and your tax professional.
The 1098-T Form is only informational; none of the amounts reported are expected to be used as part of a “plug and play” entry.
How can I get a copy of the transactions on my student account?
Student account summaries are provided, by mail, to students receiving a 1098-T.
Where can I get additional information?
Ask for assistance from your tax preparer; he or she is best qualified to properly respond to your tax questions. You may also refer to Publication 970, Tax Benefits for Education.