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More Tax Credit FAQs

Table of Contents:


Q2: Where can I find information regarding new benefits available under the American Reinvestment and Recovery Act (ARRA or Stimulus Act)?

A2:The IRS provides information on educational tax benefits offered under the American Reinvestment and Recovery Act at http://www.irs.gov/newsroom/article/0,,id=213044,00.html. Additional responses frequently asked questions are available at http://www.irs.gov/newsroom/article/0,,id=211309,00.html.


Q3: Where can I learn more about the American Opportunity Tax credit?

A3:The IRS provides information on educational tax benefits offered under the American Reinvestment and Recovery Act at http://www.irs.gov/newsroom/article/0,,id=213044,00.html. Additional responses frequently asked questions are available at http://www.irs.gov/newsroom/article/0,,id=211309,00.html.


Q4: Which fees are qualified and unqualified?

A4: Qualified fees include general service fees, special course fees, technology fees, repair and rehabilitation fees, off-campus workshop fees, and continuing education fees. Required textbook and course materials are qualified expenses for the American Opportunity Tax Credit. Unqualified fees include everything else, including university housing, books, health insurance fees, late fees, parking permit charges, fines, finance charges, etc.


Q5: How do I get an application for the Educational Tax Credits?

A5: There is no application for the Educational Tax Credits. Tax credit may be available to some taxpayers, and is claimed when you complete your US federal income tax return. Please check with your personal tax advisor to see if you qualify.


Q6: How much can I claim on my taxes? How do I know what to put on my tax return?

A6: The University can't give you tax advice. We comply with Federal regulations by annually providing an IRS Form 1098-T to the student in late January. The IRS Form 1098-T displays a number of items, including the amount Purdue billed the student for qualified tuition and related expenses, scholarships or grants awarded, and student status. The form also describes detailed information on a semester basis. Please consult your personal tax advisor for more information about your particular situation.


Q7: I do my own taxes and don't have a tax advisor, how do I find out what to do?

A7: The University can't provide tax advice. You can contact the IRS by phone or through their web site to ask questions or obtain publications and forms. Another source of information would be any reputable tax preparation service.


Q8: Which IRS form do I use to claim these educational tax credits?

A8: IRS Form 8863 is used to calculate educational tax credits. IRS Publication 970, "Tax Benefits for Higher Education" may be helpful to you.


Q9: I was on an installment payment plan for spring. How do I deal with that?

A9: It is our understanding that you may claim only those payments you actually made during 2014.


Q10: I took credit courses but didn't receive an IRS Form 1098-T. Why not?

A10: An IRS Form 1098-T is available to most students who took credit classes during 2014. The only students who did not receive forms were those with no U.S. address or those students whose scholarships or grants met or exceeded the amount billed for tuition and related expenses. If you didn't receive an IRS Form 1098-T, you can request a replacement through myPurdue. A quicker alternative is to log into myPurdue and view your form online. Click on the "Financial" tab and then on "View your 1098-T Tax Form".


Q11: I lost my IRS Form 1098-T. What do I do now?

A11: You can use your bills and receipts as the backup to claim the credit. The taxpayer calculates the credit on IRS Form 8863 using information from the IRS Form 1098-T as well as consulting his or her own records. The taxpayer does not send the IRS Form 1098-T to the IRS when filing his or her taxes. 

You can view Form 1098-T information on myPurdue clicking on "View your 1098-T Tax Form" under the "Financial" tab. You can also contact us at (765) 494-7570phone, and request a duplicate copy of your IRS Form 1098-T.


Q12: Should I attach the IRS Form 1098-T to my tax return when I mail it?

A12: No. The IRS Form 1098-T is an informational report to you only. You should keep it in your tax file as backup, along with copies of your bills and receipts from each semester.


Q13: What information did Purdue send to the IRS?

A13: Schools are required to provide the IRS with the same information that is reported on your IRS Form 1098-T.


Q14: Why does Purdue University need my Social Security Number (SSN)? What is an IRS Form W-9S?

A14: IRS Form W-9S is a Request for the student's SSN. The university is required to file information regarding payments of qualified tuition and fees (IRS Form 1098-T) with the IRS, and the SSN is required to file this information.


Q15: I don't want to give the university my SSN. Can I still claim the education tax credits on my tax return?

A15: Without your SSN, the university can not properly report an information return with the IRS.


Q16: I attended a conference and paid a registration fee to Purdue University. Do I qualify for a tax credit?

A16: If the conference helped you acquire or improve your job skills, the registration fee might be considered a qualified fee. Consult a tax advisor to determine if you qualify for the Lifetime Learning Tax Credit.