As in all matters related to the tax implications of education expenses, Student Financial Services staff will be unable to advise parents and students. We strongly encourage you to speak with a qualified tax advisor. Please refer to official IRS policies for information about 1098-T forms, education credits and other tax benefits for education. In all cases, when claiming a tax credit or deduction, the taxpayer's financial records serve as the official supporting documentation for calculating the amount being claimed.
As required by the Internal Revenue Service (IRS), Form 1098-T is mailed by Jan. 31 each year to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year (unless the student requested to access the document electronically through SIS, in which case a physical form will not be mailed).
The 1098-T form is informational only and should not be considered as tax advice. It serves to notify students they may be eligible for federal income tax education credits such as the Lifetime Learning Credit and the Hope Credit as part of their Federal Income Tax Return. IRS Publication 970 "Tax Benefits for Higher Education" as well as Chapter 35 of IRS Publication 17 provide additional information on these credits. 1098-T forms report qualifying charges billed during 2017, not payments you made to UVA.
While the 1098-T form provides a good starting point, the 1098-T, designed and regulated by the IRS, may not contain all of the information needed to claim a tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a student should use their own financial records or access account activity through UVAPay or establish an authorized user to access this information. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.
1098-T forms report qualifying charges made during 2017, not payments you made to UVA. Qualifying charges include tuition, mandatory (comprehensive) fees, and off-grounds fees. Housing and dining charges or tuition for non-credit classes are not qualifying charges. For 2017, 1098-T forms will reflect charges for the Fall 2017 term (billed in July 2017) and the Spring 2018 term (billed in December 2017).
The IRS provides a tool that may help you to determine if you are eligible for one or more available tax deductions/credits. We hope this may prove useful to you as you prepare your income tax return.
There are several reasons a student would not receive a 1098-T form. If you fit one of the conditions below, please do not contact Student Financial Services requesting a 1098-t form, as we cannot produce one for you. Please consult your tax advisor for advice on how to account for education-related expenses for 2017.
Some of the most common reasons you did not receive a 1098-T form:
If you graduated in May 2017 (your last charges were billed in December 2016, so you will not have a 1098-T form for 2017)
If scholarships or grants cover all your tuition and fees costs for the year
If academic credit was not obtained in the calendar year for which the 1098-T is generated
If your department paid your charges in full
How to read at a glance the information on the 1098-T form:
Box 1 - Payments received for qualified tuition and related expenses
UVA reports qualified tuition and related expenses that were billed during the tax year (Box 2); therefore, Box 1 will be blank.
Box 2 - Amounts billed for qualified tuition and related expenses
Includes all eligible tuition and fee charges posted to the account during the tax year, regardless of the term, that fall within the calendar year 2017.
Box 4 – Adjustments made for a prior year
This box is used when tuition that was already reported in a prior year (for example, 2054) is reduced during the current tax year (2017) for a prior term. The amount in this box is always a reduction from a prior year’s Box 2 amount.
Box 5 – Scholarships or grants
Includes all scholarships disbursed to the account during the tax year (2017), regardless of the term.
Box 6 – Adjustments to scholarship or grants for a prior year.
This box is used when scholarships that were originally disbursed in the prior calendar year are reduced during the current tax year (2017) for a prior term.
Other Records of Payment
Student Financial Services will not produce a record of payments made during 2017. Please refer to UVAPay for this information: the Current Account Activity screen will list your complete history of payments, including any check payments made in person or by mail.
If your tuition and fees were paid through the Virginia Prepaid529 plan, please contact them directly to obtain a record of payments. They can be reached at 1-888-567-0540. If your payment was made through a pre-paid education program from a state other than Virginia, please contact that program directly.