Important Tax Information
Hope & Lifetime Learning Tax Credits
Clarkson College students may be eligible to claim various tax credits for their education dollars.
The Tax Relief Act of 1997 (TRA97) established two education tax credits, a tuition and fee deduction and a student loan interest deduction.
Additional Resources
Listed are additional information and instructions on how to claim education tax credits and deductions.
Tax Benefits for Education: Information Center
Publication 970 Tax Benefits for Education
Form 8863: Education Credits, Hope & Lifetime Learning Credits
Tax Topic 457(b) Education Credit
1098T Tax Information
Clarkson College generates 1098-T forms to all qualified students who were enrolled during the 2021 Tax Year. Any adjustments made to your student account beginning December 1, 2021, will reflect on your 2022 1098-T.
Accessing 1098-T Information
** If you do not print your 1098-T form online by January 20th, it will be mailed to the address on file with the college. **
Online Access
To print your 1098-T visit http://tra.maximus.com/
If you have not set up a user ID and password, select “First Time Students.” If you are unable to access your information, call Maximus at 1.800.223.0043, and a customer service representative will assist you.
IRS Regulations
The IRS requires institutions to report either qualified payments received in Box 1 or qualified tuition and fees billed in box 2 on the 1098-T form. Clarkson College reports on qualified payments made during the calendar year 2021. This amount is reported in Box 1.
Box 1 amount will only include payments made for qualified tuition and related fees, not the total amount of payments posted to the student account. The amount in box 1 is to assist you in determining if you can claim an educational credit; however, this amount may not be the amount you can claim. Please consult the IRS Educational Credit publications and/or your tax advisor for help in determining the amounts you may be able to claim.
Box 5 will show all qualified scholarships and grants that appeared on your billing statement for those terms during the tax year.
Higher Education Emergency Grants Frequently Asked Questions
Please note: Student Accounts staff are not tax advisors and therefore cannot provide any assistance on how to use this form. We can only provide you with information about what we are required to report on the 1098-T. Please consult your tax advisor for any 1098-T tax related questions.
Contact
Clarkson College: Student Accounts
101 South 42nd Street
Omaha, NE 68131-2739
PH 402.552.2746
[email protected]