1098-T Tax Forms:
There are two tax credits that are available to help offset the cost of reducing the amount of a taxpayer’s income tax. They are the American Opportunity Credit and the Lifetime Learning Credit. The student, or the person who can claim the student as a dependent, may be able to claim an education credit on Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid during the calendar year. Information regarding the IRS education tax benefits rules and regulations may be found at IRS Publication 970 - Tax Benefits for Education.
Electronic 1098-T Statement Option: A 1098-T tax form is produced in mid/late January. With this information, you will be able to determine if you are elegible for a tax credit when filing an income tax return. To continue to promote our paperless incentives, the Bursar Office is offering all students and their Authorized Users an electronic 1098T form option for IRS federal reporting of the education tax credit benefit. By consenting to receive an electronic form you will be able to view, print, save, and email the form when the form is produced. The 2013 federal 1098T Education Tax Credit form will be available in late January and to receive an electronic 1098T form, log into http://payment.brown.edu and under the 1098T tab, select Accept Consent. Students may also allow their Aurhorized User the same electronic access by editing this information under the Authorized User tab. By consenting to receive an electronic 1098T form, you will not receive a paper form through the mail. Your consent will be on record until you are no longer enrolled as an active student. Students who do not select the electronic option will receive a paper 1098T form mailed to the address listed on the University's records. Students are also able to view and print their 1098T statement from their Banner self-service account at: https://selfservice.brown.edu/. Students should be sure the University's records are updated with their social security number. Missing or incorrect information will prevent a student from receiving the tax benefit form.
To print a copy a 1098T form, select the corresponding tax year on the Tax Information page in Banner Self Service. Questions regarding tax credit eligibility should be directed to a tax advisor.