NOTE: It is up to each taxpayer to determine eligibility for the credits and how to calculate them. St. John's College cannot advise you on how to claim the credit.
What is a 1098-T?
The 1098-T is an informational tax form letting you know what information has been sent to the IRS. A 1098-T is sent to each student who was billed tuition during the previous calendar year. It provides information related to the Hope Tax Credit or the Lifetime Learning Credit. St. John's College is required by the IRS to issue 1098-Ts. IRS regulations state that Non-Resident Alien Students do not receive 1098Ts, unless they request a copy.
When will I receive the form from the school?
The 1098-T forms were sent to the students' campus mailboxes on January 28th for current students otherwise mailed to the address on file for former students.
I did not receive a 1098-T form; what office do I contact?
If you did not receive a 1098-T due to a change of address, you must update your address through the Registrar’s Office in order to have a duplicate mailed. Update your address by contacting the Registrar’s Office at 505-984-6037 or SantaFe.firstname.lastname@example.org, and then contact the Treasurer’s Office at 505-984-6089 or SantaFe.TreasurersOffice@sjc.edu to request a duplicate 1098-T to be mailed or faxed.
I received a 1098-T from St. John’s College; does that mean I am eligible for the credit?
Receipt of a 1098-T does not mean that you are eligible for the credit. There are many restrictions associated with the tax credits. Review IRS forms, instructions, and publications for guidance.
What are these credits?
The credits are explained in IRS Publication 970 on Tax Benefits for Higher Education, which can be seen at www.irs.gov/publications/p970/index.html
Overview of the Tax Credits
In August 1997, the Taxpayer Relief Act of 1997 (TRA97) was signed into law. This law established the Hope and Lifetime Learning tax credits. TRA97 created two education tax credits for students and families:
The American Opportunity Tax Credit provides up to $2,500 per student for qualified tuition and related expenses for the first two years of post-secondary education. To be eligible, students must be enrolled at least half-time in a degree or certificate-granting program.
The Lifetime Learning Tax Credit is more broadly applicable to post secondary education and provides a credit up to $2000.
NOTE: St. John’s College cannot provide tax advice. It is up to each taxpayer to determine eligibility for the credits and how to calculate them. Please advise a tax professional on how to claim the credit.