1098-T Tax Information
Taxpayer Relief Act of 1997
The Taxpayer Relief Act (TRA) of 1997, enacted by Congress and the President, created two new tax benefits for families who are paying for higher education. There are also benefits for people who are repaying student loans. Whether you may take advantage of the tax credits depends on your individual facts and circumstances. You will need to contact your tax consultant, the Internal Revenue Service at (800) 829-1040 to determine if you are eligible for the tax credits. Virginia Tech cannot make this determination for you.
Instructions accompanying your federal tax forms will explain how to calculate the credit and how to claim it on your tax return. For further guidance, you may visit the IRS website or review the IRS Publication 970(PDF).
A 1098-T form will be mailed to students in late January to the permanent address the student has listed on the Hokie SPA. However, for students who opt-out of receiving a mailed form, an electronic version of the form will be available to them on the Hokie SPA by mid-January. See the right sidebar for more information about this alternative.
The 1098-T form will inform the student or taxpayer of the possibility of a tax credit for payment of eligible tuition and fees under the guidelines of the Taxpayer Relief Act of 1997. It is the taxpayer's responsibility to determine eligibility for this tax credit. The amount of eligible billed charges, along with scholarships or grants received by the student, will be provided for each student on the 1098-T form and on Hokie SPA to assist in determining a possible tax credit. The student must submit requests for additional information in writing or email. Requests for duplicate 1098-T forms should not be made until after February 15.
The totals provided on the Hokie SPA are calculated as follows:
- Billed qualified tuition and fees.
- Scholarships or grants - Total scholarships or grants credited to the students account.
Also see...
- Frequently Asked Questions
- 1098-T Filing Instructions and other Tax Payer Resources
- Paying for College: Tax Benefits and Savings Options
Would you like to receive your 1098-T tax information prior to late January and also contribute to the university's effort to decrease paper consumption? If so, you can opt out of receiving a 1098-T form by mail by visiting the University Account Information menu on the Hokie SPA and click on Opt-Out of Receiving Mailed 1098-T Tax Form.
If consent is given to opt-out of the paper mailing, a paper form will not be sent for tax year 2009. Instead, you will receive an email notification in mid-January notifying you that the 1098-T is available on Hokie SPA for viewing and printing. The 1098-T tax information is provided to you for informational purposes only. You are not required to submit the 1098-T form with your tax return even if you are filing for the tax credit.
This consent will extend to future tax years while you are a student at Virginia Tech. However, if at any time you wish to return to receiving a paper form, you may return to the Hokie SPA and change your option to have the 1098-T tax form mailed to you.