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Tax Information

The Taxpayer's Relief Act of 1997 enacted several benefits for college students, including the Hope Scholarship and the Lifetime Learner's Credit. Purdue University, as IPFW's managing partner, mailed IRS Form 1098-T to all students who took credit courses during 2007.

IPFW cannot determine if any individual student is eligible for the credit; you will need to get advice from the IRS or a tax advisor. But we have tried to help by providing factual information about fees paid and financial aid received on your 1098-T and refer to the FAQs below.

Tax Forms

You can get forms and publications from the Internal Revenue Service (IRS) Web site. The following links will take you to the IRS download site. Note: All files are in PDF format unless otherwise indicated. You will need Adobe Acrobat Reader to view these files.

FAQs

What are qualified and unqualified fees?

Qualified fees include all tuition and mandatory fees, professional liability insurance premiums, and the admission application fee. Unqualified fees include everything else, including medical insurance, installment plan fees, late fees, fines, etc.

Can I use myIPFW to look up my financial records for 2007?

Yes, you can use your normal account lookup function. We have also added a special TRA page that will show your summary TRA data, but only for classes taken at IPFW. It will not include any other Purdue campus information.

Why is spring semester 2008 reported on my 1098-T? I thought this was for 2007.

The tax law specifies that you can take the credit in the year you made the payment provided the term begins in the first 90 days of the new year. So if you paid your spring 2008 fees in December of 2007, you may take the credit in 2007. On the other hand, if you paid your spring 2007 fees in December of 2006, you may NOT claim the credit for that term in 2007.

I was on a deferred payment plan for spring. How do I deal with that?

You may claim only those payments you actually made during 2007. If part of your spring fees were deferred into 2008 because of your payment plan, then those payments can not be claimed until 2008.

I took credit courses during 2007 but didn't receive a 1098-T. Why not?

We sent 1098-T forms to credit students who took classes during 2007 and whose tuition and fees exceeded their total grants and scholarships. If your total financial aid exceeded your total qualified tuition and fees, no 1098-T was mailed. We also were unable to send forms to those without valid Social Security Numbers (student id's beginning with 999-) or students with no U.S. address.

I took a Continuing Education course in 2007. Why didn't I get a 1098-T for it?

IRS regulations do not require non-credit courses to be reported. You may still qualify for the Lifetime Learner's credit if your classes qualify. Go to our Tax Forms to retrieve the appropriate IRS instructions.

I lost my 1098-T. What do I do now?

Since you don't attach the 1098-T to your 1040, that's not a problem. You can use your bills and receipts as the backup to claim the credit or log on to myIPFW to see your IPFW financial data that was reported.

Should I attach the 1098-T to my tax return when I mail it?

No. The 1098-T is an informational report to you only. You should keep it in your tax file as backup, along with copies of your bills and receipts from each term. However, you must complete Form 8863 and attach it to your 1040 in order to claim a credit.

I am enrolled in an IU major. Why did my 1098-T come from Purdue?

Purdue is IPFW's managing partner and fiscal agent. Since technically your fees were paid to Purdue, Purdue has the legal responsibility to provide the 1098-T to you and to report your enrollment to the IRS.

What information did Purdue send to the IRS?

For tax year 2007, financial data was sent to the IRS. This includes the amounts in the boxes 2-5 on form 1098-T.

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