Box 2 is intentionally left blank and can be ignored.

Box 3 is the total amount of financial aid received by the student throughout the year. Loans are NOT considered financial aid.

Students can only claim amounts that were paid out of pocket (not covered by financial aid).

Use the amounts in Boxes 1 and 3 of Form 1098T to fill out Form 8863 when filing your taxes. This form can be downloaded off of the IRS website: www.irs.gov

Some libraries, post offices, and banks also have these forms available to the public.

More information on the Hope and Lifetime Learning tax credits can be found in Publication 970.

The 1098T forms will only appear under the student’s name. If the student is claimed as a dependent on his or her parents’ taxes, they are eligible to claim the credit instead of the student.

The Student Accounts Office (292-2015) and 1098T Tax Line (292-2145) cannot give tax advice. Specific questions on how to claim the credit, how to calculate the amount of a possible credit, eligibility, etc. must be referred to a tax preparer, accountant, or the IRS. Also consult www.irs.gov and Publication 970.

Only monies paid between January 1 and December 31 of a specific year can be used toward that year’s taxes.

A student must be a registered college student to be eligible for either tax credit. For example, high school students taking college level courses for dual credit are not eligible.