Information for Taxpayers Regarding Higher Education Tax Credits [1]

The American Opportunity and Lifetime Learning Credits were made available through the Taxpayer Relief Act of 1997 to give qualified students or parents a credit for qualified tuition/fees. The form designated to report this information will be the 1098-T. The University of Iowa University Billing Office will be responsible for reporting to the students and the Internal Revenue Service the 1098-T information.

The 1098-T will be available to print in MyUI. The form will contain information reported to the Internal Revenue Service: student name, address, social security number, whether in a grad program, if enrolled half time or more, the amount of qualified expenses paid in the calendar year (box 1) and the amount of gift aid received(box 5).

To access 1098-T information simply login to MyUI [2], select the Financial Aid & Billing link, then select the Hope 1098-T Tax Information link. 

If you have questions about this information, the detail of the charges used in calculating the qualified expenses paid can be found in MyUI in the financial documents section.  If you have further questions, please contact the University Billing at: ubill@uiowa.edu [3], call 319-335-0071 or 1-800-943-4557, or write to UI Service Center - University Billing, 2700 University Capitol Centre, Iowa City, IA 52242.

If you have questions regarding eligibility for the tax credits, we suggest you contact your tax advisor.

Additional information regarding tax credits for higher education can be obtained from the Department of Education site [4] or from IRS Publication 970 (Tax Benefits for Higher Education) [5],

IRS Form 8863  http://ftp.fedworld.gov/pub/irs-pdf/f8863.pdf [6]