University of Pennsylvania provides the 1098-T form to qualified students which can assist you with filing for the education tax benefits/tax credit deduction, such as the Lifetime Learning Tax Credit, Hope Scholarship Tax Credit, or the Above-the-Line Tax Deduction for Qualified Higher Education Expenses. The IRS states in its Publication 970, “An institution may choose to report either payments received (box 1), or amounts billed (box 2), for qualified education expenses. “ As a result, University of Pennsylvania has decided to report amounts billed (box 2). See the IRS website at irs.gov/pub/irs-pdf/p970.pdf for information.
Your 1098-T form will be available electronically no later than January 22 2018. Only tax years for which you are eligible to receive a 1098-T will be available for you to view.
Frequently Asked Questions
1098-T forms will be available via our vendor partner, Heartland ECSI, after January 22, 2018.
Here are the most common reasons why a 1098-T form may not be generated or received:
- If you received more scholarships and/or grants than the amount of qualified tuition and fees billed.
- If you are classified as a Non Resident Alien on the University of Pennsylvania student record database.
- If you didn’t provide us with your Social Security Number (SSN). If you provide your SSN to the Registrars’ Office or send in a W-9’s Form we can send a 1098-T form to you.
Box 2 represents the total amount billed for qualified tuition and related expenses for terms the student is enrolled within calendar year 2017 (Spring 2017, Summer Sessions 1 and 2 2017 and Fall 2017). Please note, an amount billed for qualified tuition and related expenses within calendar year 2016 for a future term will not be counted in Box 2. (i.e. amounts billed in 2017 for qualified tuition and related expenses for the Spring semester 2018).
Qualified expenses paid with student’s earnings, a loan, gift, inheritance, or personal savings are included; however, expenses paid with a Pell Grant, other tax-free scholarship, tax-free distribution from Education IRA, or tax-free employer provided educational assistance are not counted. You can find additional information at irs.gov/pub/irs-pdf/p970.pdf
Qualified Tuition & Related Expenses