Introduction
1098-T Tuition Payment Statement
American Opportunity Tax Credit / Lifetime Learning Credit
- The IRS requires colleges and universities to report either payments made by students for qualified expenses ("payment method") or amounts billed to students for qualified expenses ("billing method"). Purdue University has elected to use the billing method to report information on the 1098-T. As a result, the University reports amounts billed to the students for qualified education expenses (Box 2) and does not report amounts paid by the students (Box 1).
This does not negate the relevance of amounts paid for qualified education expenses. We have provided supplemental information detailing your student account activity (including amounts paid during the year) on the supplemental Quick Links (1098T Notification) on the Financial Tab of MyPurdue. We hope this information will prove helpful in determining your eligibility for an education-related tax deduction or credit.
Education tax credits available
In mid-January 2012, the Bursar's Office will generate an IRS Form 1098-T to help students and families prepare their 2011 tax return.
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The 1098-T forms are available on-line ONLY. Students may access the IRS Form 1098-T form at myPurdue in mid-January. Click on the "Financial" tab and the "1098-T Tax Information" option. Access questions? See Accessing your IRS Form 1098T. |
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1098-T Generated and Available On-line by January 31 Note: Purdue University Reports on Tuition Billed NOT Tuition Paid
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Students should make any needed address updates by Jan. 1 on myPurdue to ensure that the IRS Form 1098-T information is accurate. Address information can be accessed and updated under the 'Student Life' tab on myPurdue. |
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To determine if you are eligible for the tax credit, please consult your tax advisor, your personal expense records, and your MyPurdue invoices. Employees of Purdue University cannot offer assistance with tax form preparation. Please do not contact the university for that purpose. The responsibility for your individual tax circumstances rests with the taxpayer alone, and Purdue University is not responsible for your interpretation of this information. You are urged to refer to federal Publication 970 from the IRS |
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Tax filers should note that the American Opportunity tax credit, extended for tax years 2011 and 2012, is based upon payments made by Dec. 31, 2011. If students and parents intend to take advantage of this credit, they may wish to make payments by this deadline. |
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For the tax year 2011, filers may be able to claim the following educational tax credits;
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