Tax Information Regarding Form 1098T
Furman University is required to provide form 1098T to all students with qualified tuition and related expenses. Furman reports amounts billed based on transaction date. For students who register for the upcoming spring semester in November or December, the billing date will fall in a different tax year than the actual date of attendance. Therefore, a student who registers for spring semester 2013 before January 1, 2013 will show qualified tuition amounts for the tax year 2012, which is reported in box 2. Scholarships and Grants, shown in box 5, are reported in the same manner. This information is being furnished to the Internal Revenue Service.
In general, if the amount in Box 2 of the 1098T form exceeds the amount in Box 5, you may be eligible for a tax credit or deduction. If the amount in Box 5 exceeds the amount in Box 2, the student may have taxable income.
If you have a question about the amounts reported on form 1098T, please contact our office at 864.294.2500 or e-mail firstname.lastname@example.org
. Specific questions regarding eligibility of the Hope Scholarship, Lifetime Learning or American Opportunity tax credit should be referred to your tax advisor.
Students may view and print a duplicate copy of the 1098T form by logging into their MyFurman account and clicking on "student financial information" and "view 1098T".
For more information, please refer to: