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Showing posts with the label Tax Credit

1098-T Statements for Tax Year 2018 Are Now Available

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If you received aid or paid out of pocket for any tuition and fees during Calendar Year 2018 (January 1, 2018 – December 31, 2018) you may be eligible to receive a 1098-T Tax Tuition Statement from UACCM.   1098-T statements can be found on https://1098tforms.com/. Please click on either "returning student login” if you used the website last year, or “to student enrollment page" if this is your first time on the website. Additional Instructions to download your 1098t form can be found here: https://1098tforms.com/instructions/. The 1098-T Tax Tuition Statement will summarize charges, payments and aid received during calendar year 2018. Depending on your income (or your family’s income, if you are a dependent), whether you are 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 c...

Tax Credit Opportunity for Students!

TAX TIME!!! The American Opportunity Tax Credit , originally included in the American Recovery and Reinvestment Act, allows students to claim a tax credit of up to $2,500 per student. To claim the American Opportunity Tax Credit for tax year 2009 and 2010 income tax returns, students or their families need to complete Form 8863 at http://www.irs.gov/pub/irs-pdf/f8863.pdf and follow the instructions there. If a student had out-of-pocket textbook expenses or tuition and fees during 2009 or 2010 and no other financial grant aid covered those expenses, you may be able to claim the expenses as a credit. For each student, the credit is limited to $2,500.00.