The Hope Credit and the Lifetime Learning Credit, also referred to as education credits, were created by the Taxpayer Relief Act of 1997. The details of these and other higher education tax benefits associated with the Taxpayer Relief Act of 1997, including a description of qualifying expenses, can be found on the IRS website, at http://www.irs.gov/individuals/students/index.html.

In January 2012 Appalachian State University will issue a Form 1098-T to each qualifying student indicating the amount charged by the University for Qualified Tuition and related expenses during the calendar year 2011, along with additional required information. The purpose of the 1098-T is to assist students in indentifying tax credit qualifying expenses. ASU is prohibited from giving tax advice please consult your tax advisor for assistance.

Amount Reported

Appalachian State University has elected to report amounts billed for qualified tuition and related expenses during the calendar year (Box 2) instead of total payments received by the institution for qualified tuition and related expenses (Box 1 intentionally left blank). Please read the Instructions for Student on your Copy B of your 1098-T Tuition Statement for a description of each Box. The dollar amounts reported in these boxes are not necessarily the amounts you would report on your tax return and may be different than what you actually paid. The taxpayer should refer to IRS Publication 970 and Form 8863 for further information regarding the 1098-T and related tax issues or consult your tax advisor.

The University is prohibited from offering any tax advice.

The Taxpayer should not contact ASU for explanations relating to the eligibility requirements for, and/or calculation of, any allowable education tax credit or tuition and fees deduction. The final decision for determining eligible educational expenses is the taxpayer's responsibility.

For more information, please visit the IRS web pages, http://www.irs.gov/pub/irs-pdf/p970.pdf and http://www.irs.gov/pub/irs-pdf/f8863.pdf.

Frequently Asked Questions

What is a 1098-T?

The 1098-T form is a tuition statement. It is an information return that colleges and universities are required to furnish to students to assist them in determining their eligibility for the American Opportunity and Lifetime Learning education credits or Tuition and Fees deduction.

Where can I find additional information concerning the education credits?

For information about the deduction or credit, see Publication 970. Tax Benefits for Education, Form 8863 Education Credits, Form 8917, Tuition and Fees Deduction, and the instructions for Form 1040 or 1040A. These can all be found on the Internal Revenue Service website.

Did you send a copy of this form to the IRS?

Yes, Appalachian State University is required to send a copy of the 1098-T to the IRS.

Do I file form 1098-T with my tax return?

No, keep it for your records. You are not required to attach it to your return since ASU furnishes a copy to the IRS. The information on the statement will help you determine if you can claim an education credit or tuition deduction. The amounts on Form 1098-T may not be the same amounts you will use to prepare your return.

Why didn't I receive 1098-T?

Institutions are not required to furnish a 1098-T to non-resident aliens (unless requested by the student) and students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships or grants.

Whom do I contact for assistance in the review of the College-provided information?

For additional information about the amounts on Form 1098-T, call the Student Account Office at 828-262-2113. For information about the deduction or credit see “Where can I find additional information about the education credits” above.

How can I get a copy of my 1098-T?

If you need a copy of your 1098-T information the most convenient way is to log into your AppalNet account and view and print your 1098-T information from there.

The Social Security number on my 1098-T is not correct, what should I do?

Complete an IRS Form W-9S and bring it along with your Social Security card in person to the Registrar's Office. You will be required to show your social security card for verification purposes. Also, please notify the Student Accounts Office immediately of any error so we may correct your 1098T.

The name and/or address on my 1098-T is not correct, what should I do?

Please contact the Registrar's Office to submit the appropriate changes. Also, please notify the Student Accounts Office immediately of any error so we may correct your 1098T.