Federal Tax Credits for Education
There are two potential tax credits for education, the American Opportunity Credit and the Lifetime Learning Tax Credit. Guilford College is required by the Internal Revenue Service (IRS) to issue the form 1098-T to students with transactions during the calendar year. The form 1098-T will report any eligible tuition and fees billed and qualified scholarships and/or grants credited during the calendar year. Form 1098-T will be mailed by Jan. 31.
Students should opt in to receive their 1098-T Form electronically in TouchNet as this is the fastest and most reliable way to receive the form. The form can be found under the statements tab.
If you have any questions or concerns about the amounts reported, please call the Office of Student Accounts 336.316.2541 or email email@example.com. Remember, Guilford College cannot offer any tax advice or assistance. Please direct any tax questions to the IRS at 1.800.829.1040 or visit irs.gov.