Tax Info

Tax incentives exist for families who are saving for college, are already paying for college, or who are repaying student loans.

Social Security Number/Tax Identification Number Requirement

Students are required by federal law (Section 6109 of the Internal Revenue Code) to provide a Social Security number (SSN) or Taxpayer Identification number (TIN) to the University of Colorado Boulder for tax purposes. If we do not have a U.S. SSN or TIN for you, the Office of the Registrar will send you an email twice a year requesting that you mail or secure document upload a signed Social Security Number/Taxpayer Identification Number Update Form to the Office of the Registrar.

Do not email SSN/TIN information. Email is not secure.

Tax Credits and Forms

1098-T Colorado Promise Tax Credit 1098-E
1098-T

1098-T Form

The 1098-T tax form is provided for your use in preparing your tax returns. It is the taxpayer’s responsibility to determine eligibility for any tax credits.  Visit the IRS Tax Benefits for Education Information Center for more information.

Eligibility

You can use the IRS’s Interactive Tax Assistant tool to help determine if you’re eligible for educational credits or deductions, including the American Opportunity Tax Credit (AOTC) or the Lifetime Learning Credit (LLC).

What We Report on the 1098-T Form

We are required to report Qualified Tuition and Related Expenses paid (Box 1), whether the student was enrolled at least half time for one semester during the calendar year and if the courses were exclusively graduate level. For details, see 1098-T Boxes Explained and FAQs.

How to Get the 1098-T Form

1098-T forms will be in Buff Portal by Jan. 31. No forms are mailed. (See Consent to Conduct Business Electronically.) If you are a parent or family member claiming a student for tax purposes, your student can download the 1098-T form and send it to you.

  1. Students log in to Buff Portal.
  2. Search for "1098t" in the Buff Portal search bar and then click "1098T Tax Form" to open the card.
  3. Click “View/Download 1098T.”
  4. Click on the year you want to view and/or download.
  5. Select "1098-T Form" (to download the form) or "Transaction Detail" (for detailed information) and click "View."
  6. You may need to disable the pop-up blocker on your browser to access the form. If so, click "Allow."
  7. From here you can print or download the form.

International Students

  • 1098-T forms are not automatically generated for international students in the United States on a temporary visa. If you need one, you can request a 1098-T in the Bursar's Office.

Colorado Promise Tax Credit

This tax credit is provided by the state of Colorado. It’s a yearly refundable tax credit available to middle-income Colorado residents who pay out-of-pocket for tuition and fees during their first two years of college. Starting in Fall 2024, students who attend public institutions and have family incomes of $90,000 or less are eligible for a tax credit refunding any out-of-pocket tuition and fees paid for their education.

Eligibility Criteria

For full eligibility details, visit the Colorado Department of Higher Education website.

  • Undergraduate student classified as a Colorado resident for tuition purposes.

  • Apply for financial aid by completing the Free Application for Federal Student Aid (FAFSA) or the Colorado Application for State Financial Aid (CASFA).

  • Adjusted gross family income of $90,000 or less, as determined by the FAFSA or CASFA.

  • Enroll in at least 6 credit hours as a degree-seeking student within two years of high school graduation or equivalent.
  • Maintain a GPA of at least 2.5 each term.

Notification of tax credit

Students will automatically be notified by CU Boulder by January 31 if they were eligible in the prior academic year.

How to claim tax credit

The Colorado Promise tax credit can only be claimed by the student, even if a parent paid tuition and fees. If a parent claims a student as a dependent on their taxes, the student must file a Colorado Individual Income Tax Return to claim their credit. You can file for free online at Colorado Department of Revenue.

Impact to future financial aid

The Colorado Promise tax credit is considered Other Financial Assistance and will count toward financial aid in the following academic year. Financial aid may be adjusted as a result to ensure total aid received does not exceed the Cost of Attendance. 

1098-E Form

The IRS requires lenders and student loan servicers to mail 1098-E Forms by January 31. 1098-E Forms are not issued by the University of Colorado. Contact your lender or student loan servicer if you have questions. You can find your lender/servicer on the National Student Loan Data System or at studentaid.gov. Learn more About 1098-E Forms or contact a tax advisor for help regarding your specific situation.

Resources

Disclaimer

  • The University of Colorado does not provide tax advice. Please contact a tax advisor regarding your specific situation.
  • See Form 8863, Education Credits (American Opportunity and Lifetime Learning Credits) for more information regarding education tax credits.
  • The information provided here may not reflect recent revisions in IRS regulations. See irs.gov for information about the current tax year. For advice regarding your specific situation, contact a tax professional.
Looking for the grant program?

The CU Promise is a combination of grants that cover tuition and fees for students with significant financial need. It's different and entirely separate from Colorado Promise, which is a tax credit funded by the state. The Office of Financial Aid has more information about the CU Promise Grant Program.