Tax Information (1098-T Form)
Prior to the end of each January, the Student Accounts Office (automatically) issues a 1098-T tax form (for the previous calendar year) to all students who are eligible to receive one. If a 1098-T is not issued for a given calendar year, then the eligibility requirements for the form's issuance have not been met.
When issued to an eligible recipient, the 1098-T tax form includes information regarding the amounts paid for qualified tuition and related expenses at Swarthmore College (during a given calendar year) as well as the total of all scholarships or grants administered and processed by the College (during a given calendar year).
Frequently Asked Questions About the 1098-T
The Taxpayer Relief Act of 1997 included two tax credits that may be available to persons who pay higher education costs:
Hope Credit/American Opportunity Tax Credit
Students may be eligible to claim a this tax credit up to $2,500 for qualified tuition and related expenses when enrolled in an eligible educational institution.
Lifetime Learning Credit
Students may be eligible to claim a Lifetime Learning credit of up to $2,000 per family for the total qualified tuition and related expenses paid during the tax year for all students who are enrolled in eligible educational institutions.
Please Consult a Professional
Swarthmore College cannot determine if you are eligible for either of the credits nor the amount of credit for which you may qualify. Please consult your tax advisor or IRS Publication 970, Tax Benefits for Higher Education, for more information. Note that the amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year.
- Internal Revenue Service (IRS)
- IRS Publication 970-Tax Benefits for Higher Education [PDF]
- Telephone: 1-800-TAX-FORM (1-800-829-3676)