In January of each year, the University of Nevada, Las Vegas issues the IRS Form 1098-T to all students who had qualified tuition and other fees related to educational expenses during the previous calendar year. This form is informational only. It serves to alert students that they may be eligible for federal income tax education credits and should not be considered as tax opinion or advice.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. It is up to each taxpayer to determine eligibility for the credits and how to calculate them.
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.
UNLV 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.
Instructions for accessing your 1098T in MyUNLV can be found below.
For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.