About Education Tax Credits
provides our 1098-T tax reporting service.
Questions? Please contact ECSI at 866-428-1098.
2012 1098-T forms are now available online from the OASIS 'Financial Services' menu.
For those students who did not choose electronic delivery, form should have been received by mid-February.
Note: SSN/ITIN corrections can only be made on forms for the current reporting period. March 22, 2013 was the last business day of the reporting period for 2012. After this date, SSN changes given to the Registrar will not be updated on 2012 forms.
USC is required to provide 1098-E tax forms to students with loan interest paid to USC during the calendar year just ended, and 1098-T forms to students with qualified charges or qualified aid posted during the calendar year just ended, by January 31st of the following year. Forms will be mailed unless the student has elected to receive their tax forms electronically, with email notices from our service provider ECSI sent to official USC email addresses (ending in '@usc.edu') when the forms are ready.
SUMMARY: Under the 1997 Taxpayer Relief Act, beginning January 1, 1998, taxpayers who have taken loans to pay the cost of attending an eligible educational institution for themselves, their spouses or their dependents, may be eligible to deduct interest they have paid on these student loans.
No USC employee may give tax advice regarding these credits. If you are unsure about your eligibility, please consult with a qualified tax preparer.
For information about eligibility and filing for the credits, please refer to IRS Publication #970: 'Tax Benefits for Higher Education.' Additional publications and forms are available at: http://www.irs.gov/formspubs/index.html .
In January of each year, USC sends IRS Form *1098-T* to students with qualified tuition and fees or financial aid posted to their student accounts during the calendar year just ended.
This form is used to document education tax credits on United States federal income tax returns. The majority of international students are *NOT* eligible to claim education expense tax credits on their federal tax forms...
- Read more on the "1098-T and International Students" webpage
- Tax preparers and agents who are not familiar with the reporting requirements should be referred to IRS Bulletin 2006-72 and IRS Publication 970. Portions of these documents with pertinent text highlighted are available here.
SUMMARY: The Hope Scholarship, American Opportunity, and the Lifetime Learning credits are available to qualified persons who pay higher education costs. The amount of each credit is determined by the amount you pay for qualified tuition and related expenses for students and the amount of your modified adjusted gross income.
No USC employee may give tax advice regarding these credits. If you are unsure about your eligibility, please consult with a qualified tax preparer.
For information about eligibility and filing for the credits, please refer to IRS Publication #970: 'Tax Benefits for Higher Education.' Additional publications and forms are available at: http://www.irs.gov/formspubs/index.html . You may also wish to review IRS Publication "7.4 Child Care Credit/Other Credits: Hope & Life Time Learning Educational Credits".
IRS Information about Educational Tax Credits
The IRS has an online FAQ Tax Questions & Answers webpage which you may also wish to review. Be sure to see the section about "Child Care Credit/Other Credits: Hope & Life Time Learning Educational Credits".
Link: IRS Links & Publications website
See also:
- Submit a request for an account itemization or listing of transactions for a specified date range. Please note that account itemizations are emailed to student's official '@usc.edu' email address. Click to Request an itemization of transactions on your student account.