IRS Regulatory Changes for 1098T Reporting and the Impact to the Student:
2017 - 1098T - Reported Billed Tuition and Related Expenses in Box 2 (same as in prior years)
2018 - 1098T - IRS Regulations require NKU (and any university) to report Paid Tuition and Related Expenses in Box 1 effective tax year 2018. Box 2 reporting is no longer allowed by the IRS.
Due to the IRS regulatory changes, students will only have access electronically to forms for years 2018 forward. Requests for prior year forms can be made by emailing email@example.com.
In January 2018, NKU began aligning each Spring semester billing and payments with the IRS Reporting Year.
Spring 2021 semester tuition and fees will calculate on January 1 and be payable online, on or after that date. On December 11, an estimated bill will be available for review on the Biller Direct tab of MyNKU.
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming educational tax credits in IRS Publication 970, Page 9 https://www.irs.gov/pub/irs-pdf/p970.pdf.
Northern Kentucky University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.