What is Form 1098-T?

The 1098-T form is the information return that colleges and universities are required to issue for the purpose of determining a student's eligibility for the American Opportunity Credit and Lifetime Learning education tax credits.  Delaware Valley University reports charges for amounts billed for qualified tuition and related expenses, prior year adjustments, and grants and scholarships.

Will I receive a form 1098-T from Delaware Valley University?

You should receive a Form 1098-T if you were a student and had eligible transactions during the tax (calendar) year. The 1098-T information is based on invoice date, not on the date of the course. For example, if you are taking a course staring in January 2017, but you were invoiced in November 2016, the qualified tuition and fees will show on your 2016 1098-T.

When will I receive my Form 1098-T?

Delaware Valley University will mail Form 1098-T's by January 31.

To what address will my Form 1098-T be mailed?

The University will mail Form 1098-T to the student at the student's home address as listed in the University's records as of the January date the forms are prepared.

I graduated in May, but didn't receive a 1098-T for my last semester, why?

The 1098-T is based on calendar year transactions, and student account billing is triggered by registration. If you registered for the spring term in November or December, and if all of your financial aid was disbursed to your account in November or December, then your qualified tuition and expenses and scholarships and grants for the spring term were included on the last year's 1098-T.

How do I obtain a copy of prior year's 1098-T?

To access a prior year 1098-T form online, log into MyDelVal and Select "View My 1098T" and choose the appropriate year.

Did you send a copy of this form to the Internal Revenue Service (IRS)?

Yes, being that Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the IRS in determining eligibility for the American Opportunity Credit and Lifetime Learning education tax credits.  The annual deadline for the University to file the required tax information electronically is April 2, although data may be transmitted earlier as circumstances allow.

What am I supposed to do with the 1098-T form?

We advise that you keep it for your records.  Since the University sends your 1098-T information to the IRS, there is no need to attach a copy of the form to your tax return.  The information contained in the 1098-T will help you determine if you may claim the eligible education credits using IRS Form 8863.

What transactions are included in the 1098-T?

Box 1
Amounts Received for Qualified Tuition and Related Expenses
Delaware Valley University does not report amounts (payments) received for qualified tuition and expenses.

Box 2
Amounts Bills for Qualified Tuition and Related Expenses

The amount of qualified tuition and related expenses billed to a student in a tax year.***
Box 3
Change of Reporting Method Checkbox
This box will be checked ONLY if the reporting method is different from the reporting method in the previous tax year. DelVal continues to report based on qualified tuition and related expenses.
Box 4
Adjustments Made for a Prior Year
An amount will appear ONLY if there were changes to the amount reported for qualified tuition and related expenses for a prior tax year.
Box 5
Scholarships and Grants
An amount will appear ONLY if the student received a scholarship or grant in the reporting year (i.e., Pell Grants, merit awards, outside scholarships, military benefits, employer provided assistance administered by Delaware Valley University).
Box 6
Adjustments to Scholarships or Grants for a Prior Year
An amount will appear ONLY if there were changes to the amount reported for scholarships and grants for a prior tax year.
Box 7
If Amounts in Box 1 or 2 include Amounts for an Academic Period beginning Jan-Mar in the next year
The box will be checked if the student registered for classes in the tax year, but the classes do not start until January-March in the next year year.
Box 8
Check if at Least Half-Time Student
This box will be checked if the student was enrolled for at least 6 credits in a term in the tax year.
Box 9
Check if a Graduate Student
This box will be checked if the student was enrolled in a graduate or doctoral program in the tax year.
Box 10
Insurance Contract Reimbursements or Refunds
This box will be blank since Delaware Valley University is not an insurer.

***The tax year follows the calendar year (January-December).  As a result, the academic year runs across two tax years. The amount reported in Box 2 includes qualified tuition and expenses that were billed to a student in the tax year, even if payment was not made or the course did not begin until the next tax year.

Where can I get additional information about whether I'm eligible for any tax benefits?

Delaware Valley University cannot determine if you are eligible for either of the credits or 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. This publication may be downloaded and printed from the IRS website. The IRS offers free forms, publications and other information at each local IRS office and through the following sources:

Telephone: 1.800.TAX.FORM
Links: http://www.irs.gov/pub/irs-pdf/p970.pdf

NOTE: The information provided here is not tax advice. It is offered only as general information for Delaware Valley University students and their familes. Please consult a qualified tax expert for advice on computing, claiming, or determining qualification for any tax benefit.