By January 31 of each year, the University of Montevallo mails the IRS Form 1098-T to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year. This form is informational only. It serves to alert students that they may be eligible for federal income tax education credits and should not be considered as tax opinion or advice.
While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. It is up to each taxpayer to determine eligibility for the credits and how to calculate them.
In our efforts to help you better understand the purpose and the use of the 1098-T, we have listed some of our most frequently asked questions below. If you have additional questions or concerns please feel free to contact us. Please be advised UM encourages you to consult with a tax professional on the information you gather from this information.