1098-T and Income Tax Credit
If you are enrolled in an eligible degree or certificate program, or are taking courses to acquire or improve job skills, you may qualify for an American Opportunity or Lifetime Learning Tax Credit. Tax credits are based on the amount of qualified tuition and fees, less grants and other tax-free educational assistance and the taxpayer's adjusted gross income.
For complete information on the American Opportunity Credit and Lifetime Learning Credit please refer to IRS Publication 970 Tax Benefits for Education
IRS Form 1098-T (Tuition Statement)
The University conducts business electronically in order to ensure ease of access and to reduce our carbon footprint. Therefore, University activities such as registration, student account billing, financial aid award letters, payroll direct deposit, student refund ACH, transcripts, grade retrieval, e-mail and 1098-T forms are all processed and made available electronically. As part of the online registration process, students opt to allow Pacific to provide the IRS Form 1098-T (Tuition Statement) electronically by January 31st each year, as required by the IRS. The 1098-T reflects qualified tuition and fee charges posted to the student account for the prior calendar year. Amounts reported on the 1098-T are based on the date the transactions were posted to the student account.
1098-T information for prior years is available to students through InsidePacific. To access forms, choose Academic tab > Academic Services > Student Services > Student Records > Tax Notification.
If you desire a paper copy of your 1098-T you may request a copy, by emailing firstname.lastname@example.org from your Pacific email address. You will need to include your name and student identification number. The paper forms will only be mailed to the address currently on file at the time of the request.
For complete information review the IRS' Frequently Asked Questions (FAQ)
Pacific's sole responsibility regarding the American Opportunity Credit and Lifetime Learning Credit is to furnish Form 1098-T to students incurring tuition and related expenses. It is not responsible for, and is prohibited by law, from giving tax advice. Taxpayers should contact their tax advisor or the Internal Revenue Service for guidance.