Information related to the 1098T-Tuition Statement

The Taxpayer Relief Act of 1997 allows a tax credit to be claimed for out-of-pocket payments made to the University of St. Thomas during 2006 for tuition and certain fees.  The IRS requires that we provide the enclosed 1098-T Tuition Statement to you for your use in completing IRS Form 8863 Education Credits. 

A detailed listing of qualified charges, payments, grants and scholarships is available via Murphy Online Student Information System at https://banner.stthomas.edu.  This is the same system used to make an online webCheck payment to a student’s account and register for classes.  To access this system, you will need the student’s UST ID and PIN number.  After logging in to Murphy Online, select “Student Services and Financial Aid”, “Student Account", and finally “1098-T Summary Tax Notification” to access the 1098-T information. 

We recommend you refer to the detail information provided online to assist you in determining the amount of credit which may be claimed on your behalf.  For example, the 1098-T Tuition Statement reports “Amounts Billed for Qualifying Tuition and Expenses”.  Form 8863 Education Credits requires “Qualified Expenses” paid.  Differences between amounts billed and paid may affect allowable credits.  See the instructions for Form 8863 Education Credits for complete information.  The amounts and calculations used to determine the credit are the decision of the taxpayer after consideration of Form 8863 instructions, relevant IRS regulations, and, perhaps, the advice of a tax consultant. 

The University of St Thomas is not required by the IRS to provide 1098T Statements for teacher continuing education courses (CTED).  However, this does not mean that you are not eligible for tax credits.  Please refer to IRS Publication 970, “Tax Benefits for Education”.  Teacher continuing education courses are not billed through the St. Thomas Business Office.  The registration receipt from the registration contact can be used for tax purposes.  If you need a duplicate receipt of payment, please contact the registration contact associated with your course(s).  A complete list of contacts and courses is available on the web at www.stthomas.edu/education/ce.

IRS Forms and Publications related to education credits are:

IRS Form 8863:  Education Credits (Hope and Lifetime Learning Credits)

IRS Publication 970:  Tax Benefits for Education

The forms are electronically available at http://www.irs.gov/formspubs/index.html or may be ordered by calling 1-800-TAX-FORM (1-800-829-3676).

This information must not be construed as tax advice.