What is the 1098-T form?
The IRS Form 1098-T (Tuition Statement) is an information form filed with the Internal Revenue Service (IRS) to report amounts paid for Qualified Tuition and Related Expenses (QTRE), as well as other related information.
You, or the person who may claim you as a dependent, may be able to claim an education tax credit on IRS Form 1040 (U.S. Individual Income Tax Return) for the QTRE paid during the calendar year. Regardless of the information provided on Form 1098-T, if you choose to claim an education tax credit, you should always keep documentation, such as invoices and receipt of payment, that supports any claimed tax credit, even if you report only what is on IRS Form 1098-T.
The information listed on IRS Form 1098-T may be different than the amount you actually paid towards Qualified Tuition and Related Expenses (QTRE). We strongly recommend consulting a tax professional when claiming an education tax credit.
All information that Stevenson University can provide you is either on the 1098-T form or included on this webpage. Please consult a tax professional with questions related to this document. We cannot discuss tax implications, how this form may relate to you, or provide tax advice. We can only direct you or your tax preparer to this webpage to answer any questions.
Why is my Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) required for IRS Form 1098-T?
Federal regulations require students to furnish their Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) for federal reporting requirements. These requirements apply to any student, regardless of whether the student seeks or intends to seek the American Opportunity Tax Credit (AOTC) (formerly Hope credit) or Lifetime Learning Credit (LLC). If the SSN/ITIN is not on file with Stevenson University, please complete Form W-9S and mail the form to the Student Accounts Office.
When will IRS Form 1098-T be available to eligible students?
Paper forms will be mailed out to eligible students on or before January 31st using the student’s address of record. Students that consent to receive the form in electronic format will be able to view their tax form online on or before January 31st on Self-Service/Financial Information/Tax Information.
How do I consent to receive my Form 1098-T in electronic format?
Students may consent to receive an electronic Form 1098-T through Self-Service. Go to Self-Service, under Financial Information/Tax Information, select the 1098 Information tab. Check the box that states “Receive my 1098 only in electronic format”. Once you have selected the option to receive the electronic format, select Save. If you have not completed this process prior to the end of the calendar year, you may not receive access to the form electronically. A paper form will be mailed to your address of record.
How do I view my Form 1098-T?
Students can view Form 1098-T through Self-Service, if they have consented to receive the electronic format. Once in Self-Service, under Financial Information/Tax Information. select 1098 Information. Click on the link under Notation for the tax year you wish to view.
Can you mail the form to my parents or tax preparer?
Stevenson University mails Form 1098-T to the student’s address of record as of December 31st. Students are responsible for providing the form to their parent(s), guardian, and/or tax preparer. Students who consented to receive the form in electronic format prior to December 31st can grant Proxy User Access in Self-Service by editing active proxies or adding new Proxy Access Users to allow Tax Information access.
Where does the information come from in each box on my IRS Form 1098-T?
- BOX 1 is the total amount of payments received for qualified tuition and related expenses from all sources during the calendar year. The amount reported is the total amount of payments received less any reimbursements or refunds made during the calendar year that relate to the payments received for qualified tuition and related expenses during the same calendar year. The amount reported is not reduced by scholarships and grants reported in box 5. Included in this box is the receipt of a payment of past-due qualified tuition or related expenses from a previous calendar year, but only if the educational institution previously billed the student for such amount(s).
|Qualified Tuition and Related Expenses INCLUDED||Charges not considered Qualified Tuition and Related expenses and therefore NOT INCLUDED|
|Resident and Non-Resident Tuition||Housing related charges|
|Nursing program specific required course fees||Meal Plans, Dining|
|Required General Registration Fees (including technology, general, and activity fees, excludes Accident Insurance Fee)||Accident Insurance Fees|
|Book/Course Material Expenses|
|Department fees for non-return or damage|
|Wellness Center Fee|
|Club Sports Fee|
- BOX 5 is the total amount of any scholarships or grants that have been processed to the student’s account during the calendar year for the payment of the student’s cost of attendance. Scholarships and grants generally include all payments received from third parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Veterans Affairs (VA), the Department of Defense (DOD), civic and religious organizations, and nonprofit entities.
The amount reported in BOX 5 does NOT include AmeriCorps Education Awards, Tuition Waivers, Student Loans, Work Study, Employment, or any scholarships, grants, reimbursements or other types of sponsorships that were not administered or processed by the Student Accounts Office and/or the Financial Aid Office.
- BOX 6 represents a reduction in scholarships or grants reported for a prior calendar year. The amount reported in BOX 6 for adjustments to scholarships or grants may affect the amount of the education credit you may claim for the prior year. See IRS Form 8863 for further information.
- BOX 7 will be checked if BOX 1 includes payments received in the prior calendar year related to an academic period that begins in January through March of the next calendar year. For example, if you paid for the Spring Semester that begins in the next calendar year during November or December of the tax year, this box will be checked.
- BOX 8 will be checked if the student was at least a half-time student during any academic period that began during the calendar year, as established by the Department of Education.
- BOX 9 will be checked if the student was a graduate student. The student is a graduate student if enrolled in a program leading to a graduate-level degree, graduate-level certificate, or other recognized graduate-level education credential.
I am a recipient of the Post-9/11 GI Bill (VA Chapter 33) paid by the Department of Veterans Affairs (VA). How are the Post-9/11 GI Bill payments reported on Form 1098-T?
Per IRS Publication 970, payments you receive for education, training, or subsistence under any law administered by the Department of Veterans Affairs (VA) are tax free. However, for U.S. tax reporting purposes, benefits designated for tuition and fees do not count as qualified payments against federal education tax credits. VA payments made to Stevenson University are included in Box 5, reducing tax credit eligibility. Stipends and payments made directly to the student are NOT included on Form 1098-T.
I lost my Form 1098-T. How do I request a copy?
If the student has consented to receive Form 1098-T in electronic format, they or their proxy can view and print the form online using Self-Service/Financial Information/Tax Information. Requests for an additional paper copy to be mailed can be emailed to the Student Accounts Office at email@example.com . The form will be mailed to the student’s address of record.
I still have more questions. What should I do?
Please call the Student Accounts Office at 443-334-3500 or email firstname.lastname@example.org if you have questions about student account transactions. A calendar year student account statement can be provided.