2016 1098T tax forms will be available in MyCUInfo by January 31.
Every January the University of Colorado provides IRS Form 1098T to all students who were enrolled during the previous tax year. Forms are available only in MyCUInfo. They are not mailed. Students can print the form and provide it to parents or others who may be eligible to claim them as a dependent, if applicable. CU Boulder and its personnel cannot provide 1098T information directly to parents (see FERPA), others who may claim the student as a dependent, or tax professionals. If the student is claimed as a dependent on another person’s tax return (such as a parent), the student must give the 1098T tax form directly to that person. For more information about electronic delivery of 1098T tax forms, see Consent to Conduct Business Electronically.
The purpose of form 1098T is to help students determine if they are eligible to receive two tax credits: the American Opportunity credit and the Lifetime Learning credit. We follow Internal Revenue Code section 6050S and the corresponding regulations in reporting Form 1098T, Tuition Statement, for each year a student is enrolled in credit hours at the university. The University of Colorado elected the reporting of Tuition Statement Box 2, amounts billed, at the inception of the Form 1098T reporting requirement and has continued to report under this allowable method. Accordingly, as provided in regulations, the University of Colorado does not report Tuition Statement Box 1, payments received.
It is the taxpayer’s responsibility to determine the amount of qualified tuition and fees paid and to determine whether they are eligible for any tax credits.
To assist the student and the IRS in determining if the student qualifies for these tax credits, the university is required to indicate whether the student was enrolled at least half time for one semester during the calendar year. The IRS also requires the university to indicate if the student was enrolled exclusively in graduate level courses. If this indicator is marked, it could mean the student is not eligible for the American Opportunity credits. Please see Tax Breaks for Higher Education for credit requirements.
Students are required by federal law (Section 6109 of the Internal Revenue Code) to provide a Social Security number (SSN) or Taxpayer Identification number (TIN) to the University of Colorado Boulder for tax purposes. If we do not have a U.S. SSN or TIN for you, the Office of the Registrar will send you an email twice a year requesting that you mail, fax or hand-deliver a completed and signed Social Security Number/Taxpayer Identification Number Update Form to the Office of the Registrar.
DO NOT EMAIL SSN/TIN INFORMATION. Email is not secure.
International students: see Income Tax Obligations of International Students and Scholars
IRS Publication 970, Tax Benefits of Higher Education (Pub 970 for 2015 will be posted here as soon as the IRS publishes it.)
For tax advice regarding your specific situation, contact a tax professional. For additional information, call the IRS at 800-829-1040.