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Why am I receiving a form 1098-T?

IRS Form 1098-T, is entitled "Tuition Statement," and contains information to assist the IRS and you in determining if you are eligible to claim educational related tax credits such as the Hope Tax Credit and Lifetime Learning Tax Credit.

The Tax Relief Act of 1997 states that educational institutions, such as New York University, are required to file informational returns with the IRS indicating a student's enrollment, and report either amounts billed, or payments received for qualified tuition and related expenses.

The 1098-T form the student receives in the mail is the information that was sent to the IRS by New York University. The form is an informational return for your personal records,
and is not required to be submitted with your tax return.

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How do I receive a copy of Form 1098-T?

New York University will mail out Form 1098-T by January 31st, 2008.
Please allow 14 days before requesting a duplicate form to be mailed. The fastest way to receive a duplicate is for students to log onto the ALBERT - Student Information System via NYUHome. NYUHome validates your access based on your Net ID.

  • Once in NYUHome, click the ACADEMICS tab, then click ALBERT.
  • After logging onto ALBERT's main page, select the BURSAR tab, then select the 1098-T option.
  • This will allow you to print a duplicate copy, and also view a detailed summary of the amounts displayed in boxes 2,4,5, and 6.
  • If you have any questions pertaining to a duplicate copy, please call the NYU Office of the Bursar tax line at (212) 998-2700.

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What amounts are included in Box 2 "Amounts billed for qualified tuition and related expenses?"

The university is required by the IRS to either fill in the payments received (Box 1) or the amounts billed for qualified tuition and related expenses (Box 2). NYU has chosen to fill in (Box 2).

  1. Qualified tuition and related expenses are defined as tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified related expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance.

  2. Unqualified expenses include university housing, meal plans, health insurance, transportation, or other similar personal, living, or family expenses.

    See IRS publication 970 for specific examples of qualified and unqualified tuition and related expenses.

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Since I received Form 1098-T from the university, am I qualified for one of the educational tax credits?

Not necessarily. Determination of eligibility is the responsibility of the taxpayer. The university is required to file Form 1098-T with the IRS and to mail a copy to each student who was billed for qualified tuition and related expenses.

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How do I determine if I am eligible for an educational tax credit?

You or your parents may be eligible for the educational tax credits on your tax return. The Taxpayer Relief Act of 1997 created two educational tax credits for students and families, the Hope Tax Credit and the Lifetime Learning Tax Credit.

For a more detailed description you can read IRS Publication 970 which can be found on the IRS web site.

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Can I claim both educational tax credits this year?

No, you can only elect one of the credits for any given tax year. If you elect to take the Lifetime Learning credit, you cannot also claim the Hope Tax credit. A parent with more than one child in an eligible educational institution may choose to take credits on a per-student, per year basis. For example, a parent can claim the Hope credit for one student, and the Lifetime Learning credit for another student in the same year. IRS Form 8863 is used to calculate educational tax credits.

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I lost my Form 1098-T. What should I do?

  1. You can log onto NYUHome.
  2. Once in NYUHome, click the ACADEMICS tab, then click ALBERT.
  3. After logging onto ALBERT's main page, select the BURSAR tab, then select the 1098-T option.
  4. This will allow you to print a duplicate copy, and also view a detailed summary of the amounts displayed in boxes 2,4,5, and 6. If you have any questions pertaining to a duplicate copy, please call the NYU - Office of the Bursar tax line at (212) 998-2700.

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Should I attach the Form 1098-T to my tax return?

The 1098-T form is an informational form for your personal records and is not required to be submitted with your tax return.

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Where can I get a list of payments made to the University?

  1. You can log onto NYUHome to access the ALBERT - Student Information System.
  2. Once in NYUHome, click the ACADEMICS tab, then click ALBERT.
  3. Under the list of BURSAR options, click the ACCOUNT SUMMARY button. This will allow you to query your account information by term or date.

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Where can I get additional information for eligibility on the various tax credits?

For additional information on the Hope Tax credit and Lifetime Learning credit, please visit IRS Publication 970, "Tax Benefits for Education." Within IRS Publication 970, information about the Hope Tax Credit can be found on pages 8-16. Information about the Lifetime Learning credit can be found on pages 18-23.

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Additional Information:

The web links below provide more detailed information about the Hope Tax Credit and the Lifetime Learning Tax Credit.

This information is not intended as legal or tax advice. Individuals should obtain IRS Publication 970, "Tax Benefits for Higher Education," or contact a tax practitioner about personal income tax situations.

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