1098-T and Income Tax Credit

If you are enrolled in an eligible degree or certificate program, or are taking courses to acquire or improve job skills, you may qualify for a Hope Scholarship or Lifetime Learning Tax Credit. Tax credits are based on the amount of qualified tuition and fees, less grants and other tax-free educational assistance and the taxpayer's adjusted gross income.

Hope Scholarship tax credit is available only to students in their first two years of post-secondary education who are enrolled at least half-time in an eligible program.

Lifetime Learning tax credit is available to students at all educational and enrollment levels that are enrolled at an eligible educational institution.

For complete information on the Hope Scholarship and Lifetime Learning Credit seeIRS Publication 970 Tax Benefits for Education

IRS Form 1098-T (Tuition Statement)

Pacific is required to provide students with IRS Form 1098-T (Tuition Statement) at the end of each calendar year. Amounts reported on the 1098-T are based on the date that the transactions were posted. 1098-T information for previous years is available to students through insidePacific. To access the form, choose Academic tab > Academic Services > Student Services > Student Records > Tax Notification. Use this form to calculate if you are eligible for an education tax credit.

For complete information review the IRS' Frequently Asked Questions (FAQ)

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• 1098-T and Income Tax Credit
• Mission Statement
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• Forms and Tuition Calculation Worksheets
• Related Links