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Student Accounts

Washington Opportunity Pathways

Washington Opportunity Pathways

There are a variety of tax credits, deductions and savings plans available to taxpayers to assist with the expense of higher education. You may be eligible for one or more of the following:

There are Federal regulations regarding who is eligible for tax credits on their Federal income tax. It is the student's responsibility to determine the applicable tax regulations regarding these items. Tax Form 1098-T may be helpful to you in determining your eligibility.

Please visit the IRS website for more information on these tax credits and other deductions.

 

You can use the IRS’s Interactive Tax Assistant tool to help determine if you’re eligible for educational credits or deductions, including the American Opportunity Credit, the Lifetime Learning Credit and the Tuition and Fees Deduction.

 

The 1098-T Forms for the current tax year will be mailed to your Home/Preferred address in MyCWU prior to January 31st, unless you sign up for online 1098-T information instead. You can also view this information online through your MyCWU account. If you are unable to find your information in MyCWU, please contact CWU Student Accounts at 509-963-3546.


1098-T Form for Qualified Tuition Expenses:

What is the 1098-T form?

Under the American Recovery and Reinvestment Act (ARRA), more parents and students qualify for a tax credit, the American Opportunity credit, to pay for college expenses.

The American Opportunity credit originally modified the existing Hope credit for tax years 2009 and 2010, later extended through 2017 — making the benefit available to a broader range of taxpayers, including many with higher incomes and those who owe no tax. It also adds required course materials to the list of qualifying expenses and allows the credit to be claimed for four post-secondary education years instead of two. Many of those eligible qualify for the maximum annual credit of $2,500 per student.

The full credit is available to individuals whose modified adjusted gross income is $80,000 or less, or $160,000 or less for married couples filing a joint return. The credit is phased out for taxpayers with incomes above these levels. These income limits are higher than under the existing Hope and Lifetime Learning credits.

Eligible educational institutions, like Central Washington University, are required to submit the student's name, address, tax payer identification number (SSN, or TIN), enrollment and academic status. Beginning in tax year 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not. A 1098-T form must also be provided to each applicable student.

Why isn’t there an amount in box 1?

The IRS instructs institutions to report either payments received (Box1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T. Once an institution has selected one of these options, they cannot change reporting methods between calendar years without the IRS permission. CWU reports amounts billed during the tax year for qualified tuition and related expenses (Box 2), and Gift Aid, Grants, and Third Party payments.

Box 8 (at least half-time student) on the 1098-T form will be checked if...
You are considered at least half-time if you were enrolled in at least 6 credits of an undergraduate program or at least 5 credits of a graduate program for any quarter during the current tax year.

Box 9 (graduate student) on the 1098-T form will be checked if...
You were officially admitted and enrolled in a graduate program.

What is the criterion by which I was reported?
Central Washington University's criterion for reporting is based on admission and enrollment. Any CWU admitted student who was enrolled for at least 1 credit in a qualified program during the current tax year will be reported.

I disagree with my status in Box 8 (at least half-time student). Whom should I contact to correct this condition? The Student Accounts Office at (509) 963-3546.

I disagree with my status in Box 9 (graduate student). Whom should I contact to correct this condition?
The Student Accounts Office at (509) 963-3546.

I did not receive a 1098-T form. Is there a reason why?
There are several reasons why you may not receive a 1098-T form. If your record has an incorrect mailing address, or an invalid social security number or you are a non-resident alien, or a foreign student, or a high school student, or if you were not enrolled during the current tax year, you may not receive a 1098-T form in the mail. Also, if you only enrolled in courses for which no academic credit is offered, even if you are otherwise enrolled in a degree program; or if your qualified tuition and related expenses are covered by a formal billing arrangement with your employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense.

If you have an incorrect address, you may be able to retrieve your 1098-T form and print it by logging into your MyCWU account. If you do not find your 1098-T form on MyCWU and think you had qualified expenses or received financial aid during the tax year, call the CWU Student Accounts Office at (509) 963-3546.

I lost my 1098-T form. How do I get another?
You may log in to your MyCWU account and print your 1098-T form.

Whom do I contact if my Social Security Number is incorrect?
You should contact the Student Accounts Office at (509) 963-3546.

Whom do I contact if my name is incorrect?
You should contact the Student Accounts Office at (509) 963-3546.

Was my financial information reported to the IRS?
YES. The current regulations require student financial information be reported to the IRS.

Can I claim payments made in the current tax year towards qualified tuition and expenses for classes starting early in the next tax year?
YES. The prepayment regulation explains if tuition is paid during one tax year for an academic period that begins during the first three months of the following tax year, taxpayers may claim the credit for the year in which the payment is made. Nevertheless, this information will not appear on the 1098-T form.

Explanation of financial information provided to our students
Your financial information includes tuition and mandatory fee charges and financial aid (gift aid) entries posted to your University account during the current tax year. Cash payments, adjustments to previous years' loans, and previous year adjustments to other non-qualified financial aid are not reported. The information is divided in the following categories:

-Box #2 -Tuition and Course fees and Other Mandatory fees - This includes cost per credit plus course fees (such as laboratory fees), minus any tuition waiver you have received. This includes mandatory fees charged by CWU such as the Student Medical and Counseling Clinic fee, athletic fee, technology fee, and safe ride program fee.

-Box #5 -Gift Aid, Grants, Scholarships or Third Party payments. This includes all the aid that you have received and it may offset the amount of qualified tuition and fees eligible for the tax credit. Read through the regulations and contact the IRS or a tax expert if you have questions. Student Loans and Payments are not included. These will not offset the amount of qualified tuition and fees eligible for the tax credit because they are all considered cash payments.

I disagree with the financial information provided with my 1098-T form. Whom do I contact to correct this situation?
You should contact the Student Accounts Office at (509) 963-3546.

How do I claim an education tax credit or deduction?
You can  find information regarding the tax credits and deductions at : http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center

How do I know if I qualify for an education tax credit or deduction?
Central Washington University cannot provide individualized information about how to file taxes and the amount of credit or deduction to claim. General information about eligibility and requirements can be found on the IRS web site at www.irs.gov.

Please visit the IRS website for more information on these tax credits and other deductions.

 

You can use the IRS’s Interactive Tax Assistant tool to help determine if you’re eligible for educational credits or deductions, including the American Opportunity Credit, the Lifetime Learning Credit and the Tuition and Fees Deduction.