The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student's name, address and taxpayer's identification number (TIN), enrollment and academic status. Since 2003, educational institutions also must report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not. A 1098-T form also must be provided to each applicable student. This form is informational only. It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice. While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.
In January of each year, Quinnipiac University mails an IRS Form 1098-T to all students who had qualified tuition and other related educational expenses paid during the previous calendar year. This form is informational only and should not be considered as tax opinion or advice. It serves to alert students that they may be eligible for federal income tax education credits. Receipt of Form 1098-T does not indicate eligibility for the tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.
In addition to the 1098-T form, students also may access their Account Activity through Self-Service. To access Account Activity, click on Student Finance, then click on Account Activity. Account Activity is a useful tool that shows all student account activity, including billing charges and payments applied to the account, by term. Because Account Activity is not specific to tuition, it is merely suggested as an additional aid.
These credits are explained in IRS Publication 970 "Tax Benefits for Higher Education" as well as Chapter 35 of IRS Publication 17.
Unfortunately, as noted below, Quinnipiac University may not offer any tax advice to our students. Please seek the advice of a tax professional.
Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for education tax credits.
Qualified tuition and related expenses include tuition and fees a student must pay to be enrolled at or attend an eligible educational institution. For 1098-T purposes, tuition waivers, graduate assistantships and Quinnipiac University educational assistance are typically considered a reduction of qualified tuition and related expenses. As the taxability of these items varies on a case-by-case basis, it is therefore up to the student to adjust qualified tuition and related expenses for these items accordingly.
Qualified expenses do not include:
- Amounts paid for any course or education involving sports, games or hobbies unless the course or other education is required as part of the student's degree program or is taken to acquire or improve job skills.
- Charges and fees for room, board, insurance, transportation, parking, personal, living and other family expenses.
- The cost of books and equipment are generally not qualified expenses because eligible educational institutions usually do not require that the cost of the books or equipment be paid to the institution as a condition of the student's enrollment or attendance at the institution.
Not necessarily. The university is required to provide the "amounts paid" and "scholarship or grant" figures to help you determine the amount of qualified expenses you can claim on your IRS Form 8863. Per Internal Revenue Code Section 25A, taxpayers may claim an education tax credit only with respect to qualified tuition and related expenses paid during the calendar year. You will need to review your payment records to determine the actual qualified expenses paid. See IRS Publication 970 for information to determine your qualified expenses paid amount.
There are potentially many reasons for this discrepancy. First, the amount in Box 1 only represents amounts paid for qualified tuition and related expenses (QTRE) and does not include payments made for room and board, insurance, or parking which, though important, are not considered mandatory education expenses for tax purposes. Secondly, Form 1098-T reports amounts that the student paid in a certain year, and the pay date does not necessarily correspond to the dates that the classes were attended. For example, tuition for the Spring semester is typically billed in November so a student may have paid tuition for the Spring semester in 2021 despite the fact that classes didn’t start until 2022. The best and most accurate source of information about the amounts that you paid for qualified tuition and related expenses will be your bills.
This box shows qualified tuition and related expenses made in the calendar year that relate to payments received that were reported for any prior year after 2002.
The figure in Box 5 "Scholarships or Grants," includes scholarships, grants and some state scholarships which have been administered by Quinnipiac University. If you received other forms of outside scholarships and grants not administered by Quinnipiac University, it is your responsibility to adjust the figure accordingly.
This box shows the amount of any scholarship and grant reductions in the current calendar year for aid that was credited in a previous calendar year.
Box 8 will not be checked if you did not complete at least 6 credits during an academic period, which are either enrolled or paid during the calendar year.
Box 9 will be checked if you were enrolled in a program or programs leading to a graduate-level degree, graduate-level certificate or other recognized graduate-level educational credential.
Generally, foreign students cannot claim credits. However, some foreign students may be eligible. Review IRS forms, instructions and publications for guidance.
Current students should download the 1098T from Self-Service. Students who have graduated will receive a paper copy of the 1098T mailed to the permanent address as maintained by Quinnipiac University's Registrar's Office.
No. The address shown on Form 1098-T is irrelevant for IRS income tax filing purposes. The single most important information on the form is your Social Security number.