What is Form 1098-T?

Form 1098-T is a tax form the college is required to file with the IRS and each student. The form provides information that helps the taxpayer to determine their eligibility for a tax benefit from either the Hope Scholarship Credit or the Lifetime Learning Credit.

Will I get a form 1098-T from Delaware Valley College?

You should receive a Form 1098-T if you were a student taking any course(s) for credit during the semesters of Spring, Summer or Fall during the calendar year. You will also receive a Form 1098-T if you were charged prior to December 31 for any course(s) for the Spring Semester of the next calendar year.

When will I receive my Form 1098-T?

The College will mail Form 1098-T's by January 31.

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

The College 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.

Why is there no amount in box for “Payments received?”

Educational institutions have the option of reporting either an amount in Box 1 “Payments received” or Box 2 “Amounts billed for qualified tuition and related expenses.” Delaware Valley College has chosen the option to report an amount in Box 2. Information about your payments can be found at the same web site indicated in the following question.

What transactions are included in the 1098-T?

The amounts in the various boxes on your Form 1098-T include only those transactions that were posted to your student account during the calendar year.

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

Delaware Valley College 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