Information about Form 1098T
In late January or early February, you will receive Form 1098T from the State University of New York. Because all SUNY institutions share the same federal tax identification number, these forms are being sent out centrally rather than by each individual campus. The same information is being furnished to the Internal Revenue Service (IRS).
Your receipt of the 1098T only indicates that you were enrolled at SUNY Geneseo for at least one course during the calender year, and does not necessarily mean that you are eligible for either the Hope Scholarship or Lifetime Learning credit. In order to determine your eligibility, consult your tax advisor or IRS Publication 970. The general requirements for both credits are outlined on "The Taxpayer Relief Act of 1997 - Hope Scholarship and Lifetime Learning Credits" page of this web site.
On the 1098T, the amount in box 2 represent the amount billed in the calender year and the amount in box 4 represents grants or scholarships received in the calender year.
The final decision for determining which educational expenses are eligible will ultimately rest with you, the taxpayer. We suggest that you obtain a copy of IRS Publication 970 to familiarize yourself with all of the requirements for the tax credits, or consult your tax advisor. Please do not call the College for any tax advice.