A variety of tax incentives exist for families who are saving for, or are already paying for college, or who are repaying student loans. Visit the IRS Tax Benefits for Education Information Center for more information.
Due to a change in federal regulations, we will now report amounts paid (Box 1) instead of amounts billed (Box2) beginning with the 2018 tax year. Visit the National Association of College and University Business Officers (NACUBO) website and/or consult a tax advisor for more information about this change and how it may affect you. It is the taxpayer’s responsibility to determine the amount of qualified tuition and fees paid and to determine whether they are eligible for any tax credits.
Room and board, books, equipment, insurance, optional fees or other personal living expenses are not reported.
To help the student and the IRS determine if the student qualifies for these tax credits, we are required to indicate whether the student was enrolled at least half time for one semester during the calendar year. The IRS also requires the university to indicate if the student was enrolled exclusively in graduate level courses. If this indicator is marked, it could mean the student is not eligible for the American Opportunity Credit.
For more information, see Tax Breaks for Higher Education.
1098T forms are online in MyCUInfo by January 31 for the previous tax year. Students can print the form and provide it to parents or others who may be eligible to claim them as a dependent, if applicable. We cannot provide 1098T information directly to anyone other than the student (see FERPA).
For more information about electronic delivery of 1098T tax forms, see Consent to Conduct Business Electronically.
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, fax or hand-deliver a completed and 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.
For tax advice regarding your specific situation, contact a tax professional. For additional information, call the IRS at 800-829-1040.