About Education Tax Credits
Tax Benefits which are available for education costs:
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 by January 15th to receive their tax forms electronically. Email notices from our service provider ECSI will be sent to official USC email addresses (ending in '@usc.edu') when the forms are ready.
No USC employee may give tax advice regarding these credits. If you are unsure about your eligibility, please consult with a qualified tax preparer.
Student Financial Services provides students two different types of IRS forms:
Student Financial Services also provides:
Canadian TL11A tax forms:
Please SEND an email to firstname.lastname@example.org and include:
- 10-digit USC-ID
- Calendar years being requested
- Delivery method (whether form is to be EMAILED to student's official USC email address or PICKED UP at PSB-100).
NOTE: If you are looking for IRS Form 1042-S: please contact the Payroll department...
IRS Information about Education Tax Credits
There are a number of opportunities for tax credits and deductions available to students. Visit the IRS Tax Benefits For Education Information Center at http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center for a comprehensive list. Or go to the IRS webpage: "Am I Eligible to Claim an Education Credit?" may be found at: http://www.irs.gov/uac/Am-I-Eligible-to-Claim-an-Education-Credit%3F
The IRS has an online FAQ Tax Questions & Answers webpage which you may also wish to review. Be sure to see the section about "7.4 Child Care Credit/Other Credits: Hope & Life Time Learning Educational Credits".
For information about eligibility and filing for the credits, please refer to IRS Publications, 'Tax Benefits for Higher Education' , also called I.R.S. Publication 970.
To calculate the tax credit, you must file IRS Form 8863 along with your federal income tax return.
Link: IRS Links & Publications website