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Full Bursar's Calendar

1098-T Change – Frequently Asked Questions

  • Q:  When will I get my 1098-T?
    A:  Your student can retrieve it now through the Student Administration System.  It is under the "Finances" section of the Student Center within the “Other Financial” drop-down box.  Paper forms will be sent by mail at the end of January for those who do not print their form online.

    Q:  What is an IRS Form 1098-T?
    A:  The 1098-T is a statement that colleges and universities are required to issue for the purpose of determining a student's eligibility for certain tax credits such as the American Opportunity Credit, Hope Credit or Lifetime Learning credit.  It provides the total dollar amount of what’s called “Qualified Tuition and Related Expenses” (QTRE) in a single tax year.

    Q:  How much is the tax credit worth?
    A:  According to the IRS website, for tax year 2010 the maximum amount is $2,500 per student.  Specific details can be found at: http://www.irs.gov/faqs/faq/0,,id=199791,00.html

    Q:  Does the 1098-T include charges for books?
    A:  No.  You should consult with your tax advisor as books and other expenses may also be eligible.

    Q:  Is my tax credit equal to the charges in Box 2?
    A:  No.  Your tax credit is based on what you actually paid toward eligible expenses up to the allowable limit.

    Q:  Why does UConn report my charges instead of my payments?
    A:  Institutions are allowed to report either payments received or charges billed.  Most public institutions such as UConn have selected the latter.

    Q:  What semesters are included in my 1098-T statement?
    A:  Fall 2010 and Spring 2011 because they were billed in June and November, respectively.  Box 7 is checked on your statement to indicate that Box 2 includes amounts for an academic period beginning January – March.

    Q:  I’m a Grad Student.  Will my charges be reflected in 2010 or 2011?
    A:  Unlike Undergraduates, Grad Students are billed as they register.  Therefore, spring charges for the 1098-T will depend on whether you registered in December or in January.

    Q:  Does the 1098-T include charges for books?
    A:  No.  You should consult with your tax advisor as books and other expenses may also be eligible.