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IRS Form
1098-T: Tuition Payment Statement
What is it ?
An eligible educational institution, such as the Louisiana State University
Health Sciences Center, that receives qualified tuition and related expenses
on a student's behalf must furnish form 1098-T to the student. This statement
will help you to determine whether you, or the person who may claim you as a
dependent, can claim an education tax credit. For information about these
credits, see IRS Pub. 970, Tax Benefits for Higher Education. http://www.irs.gov/pub/irs-pdf/p970.pdf
The University will send a 1098-T form to students who incurred tuition and
fee expenses paid in the 2003 calendar year. Taxpayers are not required to
include the form with their tax return. To help taxpayers determine qualified
expenses eligible for the credit, a summary of tuition and fee payments and
refunds made in the calendar year will be provided on the form. This financial
information should not be construed as tax advice. It is simply a summary of
The University's financial records.
When and
where will the form be mailed ?
Forms will be mailed to the student’s current mailing address the last week of
January. Please allow two (2) weeks for delivery before calling our office
about your form.
What if I
don't receive a form ?
Please review our frequently asked questions for reasons why you may not have
received a form. Contact Accounting Services at 433 Bolivar Street, New
Orleans, LA 70112 for a copy of your form if none of the questions apply to
you.
What if I
have more questions ?
Please look at our frequently asked questions to see if the answer to
your question is there. You may want to consult a tax professional or the IRS
for more information.
Why did I
receive a 1098-T form ?
You received a form because higher education costs may be eligible for federal
tax benefits. Our records show that you were enrolled in courses at the
University, which were paid for the calendar year. Additional information
regarding the purpose can be found on the 1098-T form.
What
should I do with the 1098-T form ?
You received a form because higher education costs may be eligible for federal
tax benefits. The University cannot provide tax advice. Whether you may take
advantage of these tax credits depends upon your individual facts and
circumstances - information which is known only to you. To find out more about
the credits and your eligibility, you may consult a tax professional or IRS
publications. You may also call 1-800-TAX-FORMS for IRS publications and
forms.
Am I
eligible to claim the tax credit ?
The University cannot provide tax advice. Whether you may take advantage of
these tax credits depends upon your individual facts and circumstances,
information which is known only to you. To find out more about the credits and
your eligibility, you may consult a tax professional or IRS publications. You
may also call 1-800-TAX-FORMS for IRS publications and forms.
When and
where will the 1098-T be mailed ?
Forms will be mailed to the student’s mailing address during the last week in
January. Please allow 2 weeks for delivery before requesting a duplicate.
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Did you send me a 1098-T form / Why haven't I received my 1098-T form ?
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| In certain situations, a 1098-T may not have been generated for you:
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If payments were made either in
previous or future year for classes taken in the current calendar
year, the expenses are not reflected in current tax year. When
reviewing your records please take into consideration actual payment
dates.
If your qualified tuition and related expenses were paid entirely by a
waiver and/or scholarship or grant, a 1098-T will not be generated.
We cannot report information to the IRS if we do not have a valid SSN.
We also do not generate 1098 forms for students who are on Visa
status.
To change the SSN on the 1098-T, the student must contact the
Registrar to have your social security number changed in the computer
system. Once you have done this, the Registrar will contact Accounting
Services and a new 1098-T will generated.
If these situations do not apply, a 1098-T should have been generated
and mailed to the student's mailing address. If you do not receive the
1098-T form, contact Accounting Services at (504) 568-4812. |
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Why do my records not match the tuition and fee payments reflected on my 1098-T form ?
When reviewing your records please take into consideration actual payment
dates in order to reconcile your records to the amounts on the form. The
1098-T form reflects payments and refunds made in the calendar year. Payments
made in previous or future years are not included.
I know I
didn't pay this much in tuition. Why are the figures on my statement so high ?
The 1098-T form reflects total tuition and fee payments, not just items paid by you individually. Therefore, the statement may include amounts paid by financial aid, tuition waivers, exemptions, etc.
The SSN on the 1098-T is wrong. How can I get it corrected ?
To change the SSN on the 1098-T, the student must contact the Registrar Office to have your social security number changed in the computer system. Once you have done this, the Registrar will contact the
Accounting Services and a new 1098-T will generated.
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