|1098-T forms (Tuition Payments Statement) are mailed to SRJC
students in January for the previous tax year. It is up to students to determine
for themselves, or with the advice of their tax advisors, what amounts should be
used for the Hope Scholarship Credit, Lifetime Learning Credit or the American
Opportunity Tax Credit. You will need to file Form 8863 (Education Credits) to claim
the education tax credits.
Student Form 1098-T Information via Student
Note: After logging onto your student portal, select the
"Tax Credit" then click the "Submit" button.
Informational Web Site
TAXPAYER RELIEF ACT OF 1997 (Education Tax Credit)
In accordance with the Taxpayer Relief Act of 1997, beginning in 1998,
individuals may be able to claim the new tax credit for higher education
costs. These are the Hope Scholarship Tax Credit and the Lifetime Learning
Hope Scholarship Tax Credit
Applies to students who are enrolled at least half time in their first or
second year of undergraduate study in a program leading to a degree. A maximum
of $2,500 per year of qualifying tuition and related expenses may be claimed as
a credit against taxes owed by taxpayers who meet defined income restrictions. Hope
Scholarship Tax Credit can be claimed for an eligible student or dependent
student who meets the following requirements:
- Is enrolled in one of the first four years of post secondary
education (generally the freshman or sophomore years of college).*
- Is enrolled in a program that leads to a degree, certificate,
or other recognized educational credential.
- Is taking at least one-half of the normal full-time work
load (6 units or more) for his or her course of study for at least one academic
period (Spring, Summer, Fall) during the calendar year, and
- Is free of any felony conviction for possessing or distributing
a controlled substance.
Lifetime Learning Tax Credit
Taxpayers may be able to claim a Lifetime Learning Tax Credit of up to $2,000
for the total qualified tuition and related expenses paid during the tax year
for all eligible students or dependent students who are enrolled in eligible
- The Lifetime Learning Tax Credit is not based on the students
work load. It is allowed for one or more courses.
- The Lifetime Learning Tax Credit is not limited to students
in the first two years of post secondary education.
- There is no limit on the number of years for which the
Lifetime Learning Tax Credit can be claimed for each eligible student.
- The amount you can claim as a The Lifetime Learning
Tax Credit does not vary (increase) based on the number of eligible students
for who you pay qualified expenses.
American Opportunity Tax Credit
The American Opportunity Tax Credit (AOTC) amends the Hope Scholarship
Tax credit for the 2009 and 2010 tax years. Changes include: an increase in the maximum
tax credit from $1800 to $2500. The tax credit now can be received for tuition and
related expenses. The tax credit can be used for the first four years of college
instead of the first two years of college. For more information on the AOTC and the American
Recovery & Reinvestment Act visit: www.irs.gov/recovery
The credit amount starts phasing out for individuals making more
than $80,000 and for married couples making more than $160,000. Students who don’t
earn enough to file a tax return should consider filing anyway because they may get
up to $1000.00 back.
For a more detailed Q & A on Tax Credits, visit: http://www.irs.gov/publications/p970/index.html
California Community Colleges
students and parents to
learn more about
important tax credit.
Please visit: www.icanaffordcollege.com
Volunteer Income Tax Assistance
The Volunteer Income Tax Assistance (VITA) program also offers
free tax help to people with a gross annual income at or below $49,000 who need assistance
preparing their tax returns. To take advantage of this tax credit you can contact
the Volunteer Income Tax Assistance (VITA) program @ 1-800-829-1040.
To obtain/view copies of Internal Revenue Service publications, including
Publication 970 Tax Benefits for Higher Education
IRS Telephone Assistance: (800) 829-1040
IRS Local Taxpayer Assistance Center:
SRJC Taxpayer Relief Act Hotline: (707)