All active students have access to their Federal 1098-T Form on TreeHouse. To access your 1098-T form, log into your TreeHouse account, click the Students tab, and then click on the “1098T Tax Statement Link” located in the “ Financial Aid & Student Employment” box, — it appears towards the middle right side of the screen. Make sure to enter the tax year you want to view (i.e. 2012, 2013, 2014, etc.).
Drew will not be mailing Form 1098-T to your home. You will receive an email notifying you when your form is available for viewing online. From this electronic statement, you can choose to print the statement for your tax records. This consent will be implied for all 1098-T forms current and future.
Access to the 1098-T tax form area of TreeHouse Self-Service is now available for parents, guardians, and other third parties. Students have the option to grant access to the 1098-T form by checking related boxes on any TreeHouse Proxy record they have created.
To set up Proxy Access to TreeHouse Self-Service:
To assist you in effectively claiming the lifetime learning credit (and American Opportunities Credit), the student, when eligible, will receive Form 1098-T. Generally, an eligible educational institution (such as a college or university) must send Form 1098-T (or acceptable substitute) to each enrolled student by January 31. An institution is required to report payments received (box 1) for qualified education expenses. However, the amounts in box 1 of Form 1098-T might be different from what you paid, depending on your qualified educational charges for the year.
The intent of the form is to provide taxpayers with information to assist them in completing their taxes. The responsibility of a properly completed tax form belongs to the taxpayer. Thus, the University is unable to provide tax advice, but can explain what exists on the 1098-T, and what will be reported to the IRS by the University.
If you have forgotten your login credentials for TreeHouse, you can have them reset by contacting the Help Desk. Printed copies of the 1098-T form will only be mailed to those whose access has been discontinued. 1098-T tax statements cannot be faxed, emailed, or handed out in office. All paper statements will be mailed to the students address on file (if their TreeHouse access has been terminated). If a parent or guardian is in need of a 1098-T, it is the students right and responsibility to provide that to them. Suggested methods are via mail and through the proxy method described above.
Drew University’s Student Accounts Office will be preparing 1098-T tax forms electronically every year in January. You will be notified via email when your electronic 1098-T is available for viewing on TreeHouse. Please note that Drew acknowledges and closely follows the Family Educational Rights and Privacy Act (FERPA).
We are pleased to provide you some general information about tax credits that may apply to you. We encourage you to read through this information and visit the Internal Revenue Service for more specific information.
In box 4 we reported the amount of any scholarships or grants reported for the calendar year. The amount of any scholarships or grants and other similar amounts not reported may reduce the amount of any allowable education tax credit.
If there were any reductions in charges or any reductions to the amount of scholarships or grants, there will be an amount in box 3 or box 5, respectively. These amounts may reduce any allowable education credit you may claim or the prior year.
The idea behind the HOPE Scholarship tax credit is to make the first two years of college more available to more students. During the first two years of college, students are eligible to receive a tax credit of 100% on the first $1,000 of tuition and required fees and 50% of the second $1,000. The credit does not apply to room and board costs or “non-educational fees.” The credit can be applied to payments which were made after December 31, 1997 for college enrollment beginning after that same date.
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This tax credit is aimed at college juniors and seniors, graduate and professional students, adults who want to go back to school to upgrade their skills or to take a few courses.
Under this program, a family is eligible for a 20% tax credit for the first $5,000 of tuition and required fees paid through 2003, and for the first $10,000 after. Just like the HOPE Scholarship credit, the Lifetime Learning credit does not apply to non-educational fees, including room and board costs. It is applicable toward amounts paid after July 1, 1999 for post-secondary enrollment beginning on or after the same date.
This credit is available throughout their lifetime on a per taxpayer (family) basis, and is phased out at the same income levels as those listed for the HOPE Scholarship.
Families will be able to claim both the Lifetime Learning tax credit for some members of their family and the HOPE Scholarship tax credit for others who qualify.
Related links (non-Drew)