Under the Lifetime Learning Credit (LLC), taxpayers may be eligible to claim up to $2000 of qualified tuition and related expenses as a tax credit. The LLC covers qualified education expenses paid for academic periods during the tax year. While the tax credit excludes expenses covered by scholarships, tax-free grants or employer education assistance, it does include all qualified out-of-pocket expenses and those paid by loans. For detailed information, please refer to IRS Publication 970, "Tax Benefits for Education." (PDF)
You may be able to deduct qualified college tuition and related expenses of up to $4,000 from your income taxes. This deduction is an adjustment to income, which means the deduction will reduce the amount of your income subject to tax. The tuition and fees deduction may be beneficial to you if you do not qualify for the lifetime learning tax credit. For more information, visit the IRS site.
The 1098-T is an IRS form that assists students in determining if they qualify for certain tax-related credits. If you were enrolled in credit courses the previous tax year, the University of Washington will mail you a 1098-T form at the end of January. Only students enrolled in credit courses receive a 1098-T. The UW does not issue 1098-T’s for students enrolled in noncredit/CEU courses.
If you are registered for winter quarter, your 1098-T will be mailed to your billing address, otherwise it will be sent to your permanent address.
You may also access the information contained on the 1098-T from the Student Finances tab of MyUW. Because you do not submit the 1098-T form to the IRS, an official form is not necessary to claim the tax credits.
If you have questions about or need corrections to your 1098-T, contact the UWPCE Accounting office at firstname.lastname@example.org or 206-685-6330. When emailing, include your student ID number and details of what needs to be corrected. If a correction is made, you may request that a corrected 1098-T be mailed to you, or you can print the corrected form from the Student Finances tab of MyUW.