The Tax Relief Act of 1997 created two new education tax credits for students, the Hope Scholarship Tax Credit and the Lifetime Learning Tax Credit.
By February 2008, all eligible students will receive a 1098-T tax statement.
The web links below provide more detailed information about the Hope Tax Credit and the Lifetime Learning Tax Credit.
- IRS Publication 970 (info on tax credits)
- www.irs.gov (place form number in search box)
- www.irs.gov/taxtopics/tc605.html
- www.nacubo.org