1098-T Tax Info
American Opportunity and Lifetime Learning Tax Credits
1098-T Tax Information Tax Relief Act of 1997
Vincennes University will not be able to answer any tax questions or offer any tax advice. Please do not ask us to interpret the financial data that you may use to claim a tax credit.
The IRS requires that we provide the 1098-T statement to you for your use in completing IRS Form 8863. Detailed information of charges, payments, grants and scholarships (which you will need) is available by accessing MyVU. This information must not be construed as tax advice. The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of relevant IRS regulations, Form 8863, and, perhaps, the advice of a tax consultant.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)
Vincennes University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
Exact payment dates may be found on MYVU under the Student Records, Student Accounts, Account Detail for Term. If you click the Statement and Payment History found at the bottom of the page you will be able to view all terms with dates. The IRS follows the calendar year (Jan 1, 2018- Dec 31, 2018). The University bills Spring term for early registrants in November of the preceding year. There is a check box on the form indicating this is for a future term.
For your information and understanding, you may access the following internet site for information regarding these tax credits: https://www.irs.gov/pub/irs-pdf/p970.pdf , for a complete listing of eligible expenses.
Steps for Accessing MyVU
1. Logon to your MYVU using your (the student) assigned user name and password;
2. Click on the “University Systems”;
3. Click the link “Student Self Service”;
4. Click on “Student”;
5. Go to “Student Records”;
6. Click on “1098T Tax Information”;
7. Enter year in “Tax Year” and click on “Submit”.
If you are experiencing problems accessing MyVU, please contact the Management Information Center at 812-888-4332.
In order to comply with federal regulations, Vincennes University must include your Social Security number (SSN) on Form 1098T. Section 6109 of the Internal Revenue Code requires you to give your correct SSN to the University because we are required to file information returns with the IRS. Please make sure the Social Security number on this tax form is correct. If it is blank you may enter the correct information in MyVU or for incorrect numbers, complete a W-9S and return to Vincennes University. A W-9S may be found here: http://www.irs.gov/pub/irs-pdf/fw9s.pdf
Steps to enter your Social Security in MyVU
1. Click the link under “Student Self Service”;
2. Click “Personal Information”;
3. Click “Social Security Number Information”.
1002 North First Street
Vincennes, IN 47591
Fax Number: 812-888-2124