Important Updates to Tax Reporting
Due to a change in federal law effective 2018 tax reporting year, the amount of Qualified Tuition and Related Expenses (QTRE) PAID to your student account during the calendar year will be reported in Box 1 of the 1098-T form. This marks a change from previous reporting years in which the University was required to report QTRE BILLED to your student account for the calendar year in Box 2.
Please note that due to the University's seasonal closure, all checks received after December 20th may be processed and posted to the Student Account after the New Year. To assure that payment is posted during December of the current calendar year, please be sure checks are received in our office on or before December 20th.
How to Retrieve your 1098-T Form
Completed 1098-T forms are only available to students online at UM-Dearborn Connect by the end of January. You will receive an email notification when your form is available.
Please follow the step-by-step instructions to retrieve your completed 1098-T form. We recommend that you use Mozilla Firefox web browser:
- Enter Secure Area at web-sis.umd.umich.edu.
- Login with your unique name and password.
- Go to 'Student Services.'
- Click 'Student Account.'
- Select 'Tax Notification.'
- Choose the year you want to display. and click 'Submit.'
- Use the Print command in your browser or hit Ctrl-P to print.
- The 'Select Tax Year' menu option next to 'Tax Notification' will let you select a different year for viewing a new form inside 'Tax Notification.'
If the student is no longer attending the University, please reach out to ITS Helpdesk with questions on how to retrieve the 1098-T form.
Educational Tax Benefits
- The American Opportunity Credit
This credit can help parents and students pay part of the cost of the first four years of college. The American Recovery and Reinvestment Act modifies the existing Hope Credit for tax years 2009 and 2010, making it eligible for a broader range of taxpayers. Eligible taxpayers may qualify for the maximum annual credit of $2,500 per student. Generally 40% of the credit is refundable, which means that you may be able to receive up to $1,000, even if you owe no taxes.
- The Hope Tax Credit
The credit can help students and parents pay part of the cost of the first two years of college.
- The Lifetime Learning Credit
This credit can help pay for undergraduate, graduate, and professional degree courses to improve job skills-regardless of the number of years in the program. Eligible taxpayers may qualify for up to $2,000.
- Enhanced benefits for 529 college savings plans
Certain computer technology purchases are now added to the list of college expenses that can be paid for by a qualified tuition program, commonly referred to as a 529 plan.
- Tuition and fees deduction
Students and their parents may be able to deduct qualified college tuition and related payments of up to $4,000. The deduction is an adjustment to income, which means the deduction will reduce the amount of your income subject to tax. The Tuition and Fees Deduction may be beneficial to you if you do not qualify for the American Opportunity, Hope, or Lifetime Learning Credits.
For more information, see Publication 970, Tax Benefits for Education which can be obtained online at IRS.gov or by calling the IRS at 800-829-3676.