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Hope Tax Credit and 1098-T Form Information

Pennsylvania College of Technology will be mailing Internal Revenue Service form 1098-T (“Tuition Payments Statement”) to approximately 6,500 Penn College students.

The form is a requirement imposed by the IRS on all colleges and universities that receive qualified tuition and related expenses on behalf of the student, to inform the IRS that an individual was a student at a particular college and, at some point in 1998, was enrolled for at least six credits in one given semester. This information will help to determine whether the student, or the person who may claim the student as a dependent, may claim an income-tax credit for the Hope credit or Lifelong Learning credit on Form 8863, Education Credits.

All questions regarding this form, the Hope Tax Credit or Lifelong Learning tax credit must be referred to the tax consultant of the student or of the person claiming the student as a dependent. The College cannot provide tax advice, since only an individual’s tax consultant can inform them of the implications of their personal tax situation.

For additional information from the IRS, including forms, instructions and publications, visit the IRS Web site.

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