1098-T Frequently Asked Questions
Q. What is Form 1098-T?
IRS Form 1098-T Tuition Statement is an informational statement required by the IRS to be issued by the eligible educational institution that the student attends. To assist the student and the IRS in determining if the student qualifies for the tax benefits available, the school is required to provide information on the 1098-T regarding the amount of tuition and fees billed to the student, scholarships and grants received for the student by the University, whether the student was enrolled at least-half time at some point during the tax years, and whether the student was exclusively a graduate student.
Q. Which semester(s) apply to the 1098-T for the 2016 year?
Spring 2016, Summer 2016, & Fall 2016
Q. How can I find out if I am eligible for a tax benefit?
Read IRS Publication 970, contact the IRS at (800) 829-1040, or a tax advisor for information on how to determine if you qualify for one of the tax benefits.
Q. I think I should have received a 1098-T, but did not get one. What should I do?
Contact Student Accounts Office at email@example.com for a duplicate 1098-T form. If we did not have your current address, you MUST update your address through Registrar's Office in order to have a duplicate mailed out. To update your address, you need to complete a Change of Address Form. After you have changed your address, please contact us.
Q. Since I received Form 1098-T from the University, will I qualify for one of tax benefits?
Not necessarily. Read IRS Publication 970, contact the IRS at (800) 829-1040, or contact a tax advisor for information on how to determine if you qualify for one of the tax benefits. The University is required to send 1098-T forms to all undergraduate and graduate students who have been billed for qualified tuition and related expenses except waivers.
Q. 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?
Not necessarily. The University is required to provide the (amounts billed) and (scholarship or grant) figures to help you determine the amount of qualified expenses you can claim on your IRS Form 8863. You will need to review your payment records to determine the actual qualified expenses paid. Remember that qualified amounts paid by student loans may count as payments eligible for these purposes. Scholarships and grants received may reduce your eligible payment amounts. See IRS Publication 970 for information to determine your qualified expenses paid amount.
Q. How did the University figure out what figures to include in Form 1098-T Box 2 Amounts billed for qualified tuition and related expenses?
The figure in Box 2, Amounts billed for qualified tuition and related expenses includes the total amount BILLED of tuition, unit fee, course fee, summer tuition, rec fees, for the terms that started in 2014. This amount includes tuition and fees billed for Spring 2016, Summer 2016, and Fall 2016.
Non-qualified expenses are defined as health service fee, books/supplies, room and board, student health insurance, parking, graduate school fee, dorm fine, and other fees.
Q. How did the University figure out what amounts to include in Form 1098-T Box 5 Scholarships or grants?
The figure in Box 5 Scholarships or grants includes scholarships, grants, and payments made by a third party (military or vocational rehabilitation agency).
Q. My Form 1098-T contains incorrect information. How can this be corrected?
Contact the Student Accounts Office at firstname.lastname@example.org and explain what information you feel is incorrect. If Form 1098-T does contain incorrect information, a corrected form will be issued.