In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)
The 1098-T form is a starting point for students to determine their eligibility for educational tax credits. Students are encouraged to use this form, any supporting documentation or receipts, and the IRS Form 8863 to determine eligibility and the amount that can be claimed. Since we are not tax preparers, we cannot provide any tax advice. However, Radford University has appropriately prepared the 1098-T in accordance with IRS Publication 970. Radford University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
The Office of the Bursar
The following links may answer some questions concerning the Hope Scholarship/Lifetime Learning Credits.