Tax credits

Students may have an opportunity for tax savings through the American Opportunity Credit or Lifetime Learning Tax Credit. These two tax credits are based on qualified education expenses paid to Virginia Commonwealth University.

Please be aware that the purpose of the 1098-T is to support any claim for educational credit. The amount reported in Box 1 is for informational purposes and might be different than the amount the student actually paid or deemed to have paid. To help determine how much credit can be claimed, select the “account detail for term” option in eServices. Refer to IRS Publication 970 for additional assistance in determining how these awards should be reported.

The Student Accounting department does not offer tax advice. For further questions concerning either tax credit, consult with a tax professional.

1098-T forms

In January, the Student Accounting department will issue 1098-T tuition statements to eligible students. Students can also access a copy of this form through the “tax notification” option under “student accounts” in eServices.

Frequently asked questions