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Education Tax Credit

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Education Tax Credit (1098-T Form)


What is IRS Form 1098-T?

As an eligible institution who makes reimbursements or refunds of qualified tuition and related expenses, Clarkson University must furnish the 1098-T form to you.

The information on the 1098-T form is provided to assist each Student/Taxpayer in preparing the IRS FORM 8863, which is used to claim the American Opportunity or Lifetime Learning Credits. Once complete, the IRS FORM 8863 should be attached to the Student/Taxpayers return to determine eligibility and the amount of the Education credit (if any) that he/she may be entitled to on their Individual Income Tax Return.

Amounts on Form 1098-T

Please be advised that Clarkson may bill for the next tax year, spring semester, in the fall of the current tax year; however scholarships may not show to the student account for spring semester until the next tax year.  Therefore, scholarships and tuition may reflect on two different years of the 1098-T for the same semester.

Reporting payments

Institutions may report either payments received during the calendar year OR amounts billed during the calendar year.  Clarkson reports amounts billed.  For detailed payments made during the calendar year, please refer to your PeopleSoft student account for a detailed account of payments by each semester within the tax year to be filed. 

Important 1098-T Electronic Consent Information

Clarkson University, in conjunction with ECSI, is offering you the opportunity to receive your 1098-T Tuition Statement Tax Form electronically this year.  If you would like to receive your 1098-T form electronically, please give your consent by following the link provided below and following the step by step instructions:

1098T Electronic Consent: http://www.ecsi.net/gateway/1098t-signup.html?school=85   

  

CLARKSON UNIVERSITY NOR ECSI CAN PROVIDE INDIVIDUAL INCOME TAX ADVICE.  PLEASE SEE YOUR TAX PROFESSIONAL OR CONTACT THE IRS TAXPAYER ASSISTANCE LINE AT 1-800-829-1040 FOR FURTHER DIRECTION.

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