What amounts are included in Box 2 “Amounts billed for qualified tuition and related expenses?
The university is required by the IRS to either fill in the payments received (Box 1) or the amounts billed for qualified tuition and related expenses (Box 2). NYU has chosen to fill in (Box 2). • Qualified tuition and related expenses are defined as tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Student-activity fees and expenses for course-related books, supplies, and equipment are included in qualified related expenses only if the fees and expenses must be paid to the institution as a condition of enrollment or attendance. • Unqualified expenses include university housing, meal plans, health insurance, transportation, or other similar personal, living, or family expenses. See IRS publication 970 for specific examples of qualified and unqualified tuition and related expenses.
Related Questions
- The Hope Scholarship Credit may be claimed only for amounts spent on qualified tuition and related expenses. Which expenses are included in qualified tuition and related expenses?
- Do the (Amounts Billed) figures in Box 2 of my 1098-T equal the (Qualified Expenses) I can claim on my IRS FORM 8863 as I file my taxes?
- For purposes of Box 2, what educational expenses are considered as qualified tuition and related expenses?
