Can I claim both the American opportunity tax credit and the lifetime learning credit?
No, only one education tax credit can be claimed per student, per tax year.
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Tax forms and the 1098-T FAQs
See all Tax forms and the 1098-T questions- What is a 1098-T?
- What are qualified tuition and related expenses (QTRE)?
- Who receives a Form 1098-T?
- Students in non-degree programs
- Students whose QTRE is fully covered by scholarships and grants
- Am I still eligible for an education tax credit without a 1098-T?
- When is the 1098-T made available?
- How do I view my 1098-T online?
- What does each box on Form 1098-T report?
- Why doesn’t Box 1 reflect all the payments I made in the calendar year?
- Why is the Box 1 amount more than what I paid, and was charged for, in the calendar year?
- What is the American opportunity tax credit?
Form 1098-T is an informational tax document prepared by colleges and universities to report payments of qualified tuition and related expenses (QTRE), as well as scholarships and grants paid out during the calendar year. The form helps students and their families determine eligibility for education tax credits when filing a U.S. tax return.
Qualified tuition and related expenses includes tuition and student life fees. Expenses such as housing, meals, books, supplies, and health insurance are not included.
MIT issues a 1098-T to degree-seeking students whose scholarships and grants do not exceed qualified tuition and related expenses for the calendar year. Consistent with IRS regulations, MIT does not issue Form 1098-T to:
Yes, you may still be eligible for an education tax credit without the 1098-T form. The form is primarily for informational purposes and does not determine eligibility for tax credits or deductions. You can provide an overview of your expenses, especially those not reported on the 1098-T, by downloading and printing your student account statements.
The 1098-T is available electronically via Heartland ECSI by January 31 each year.
You can access your 1098-T online by logging into MITPay. If you didn’t opt in for electronic delivery, a paper copy will be mailed to your permanent address.
If you no longer have access to MITPay, you can access the forms from 2020 onwards, via Heartland ECSI. If you need a 1098-T prior to 2020 and no longer have access to MITPay, please contact us at sfs@mit.edu.
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Box 1: Reports amounts paid for qualified tuition and related expenses during the calendar year. This may include payments for future terms made within the current year
Box 4: Adjustments made to prior years’ QTRE payments
Box 5: Scholarships and grants disbursed during the calendar year, including those from third parties
Box 6: Adjustments to scholarships or grants reported in a prior year
Box 1 reports qualified tuition and related expenses (QTRE) charged and paid within the calendar year, running January 1 to December 31. It also includes any unpaid QTRE carried over from the previous year.
Box 1 may include any unpaid qualified tuition and related charges from the previous year, in addition to the charged and paid amount for the current 1098-T calendar year.
The American opportunity tax credit is a credit for qualified education expenses, paid for an eligible student, for the first four years of higher education. You can get a maximum annual credit of $2,500 per eligible student. More information can also be found on the IRS website.