In 1997, Congress passed the Tax Payer Relief Act, which included provisions for the Hope Scholarship Credit and the Lifetime Learning Credit. The Hope Scholarship Credit has been expanded and renamed The American Opportunity Tax Credit. Both credits allow certain taxpayers who have incurred qualified expenses for higher education to take a credit against their federal income tax liability. The 1098-T is an information return. The following is general information only and should not be taken as tax advice. Whether you may take advantage of these tax credits depends upon your individual facts and circumstances. The amounts and calculations used to determine any credit are the responsibility of the taxpayer and the taxpayer's personal financial records serve as the official supporting documentation for any such credit. LSU at Alexandria cannot provide tax advice, so you may want to consult with a tax professional to find out more about the credits and your eligibility. See IRS Publication 970 for additional information.
Note: Please be advised that LSUA is prohibited from providing legal, tax, or accounting advice to students and we are not responsible for any use you make of this information.