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1098-T Information
The Taxpayer Relief Act of 1997 (TRA97)
Texas State University-San Marcos has contracted with a specialized vendor to provide students a 1098-T tax form, financial addendum, and informational brochure. This packet of information will be mailed to students no later than February 1st following each tax year. Please visit the Tax Credit Reporting Service website at http://www.1098-T.com to view or reprint your 1098-T form and financial addendum. Other related links can be found at the bottom of this page.
The Taxpayer Relief Act of 1997 may offer you the opportunity for tax savings through the following:
Hope Scholarship Tax Credit
Lifetime Learning Tax Credit
Student Loan Interest Deduction
Please note that the Hope credit is actually a tax credit and not a scholarship. Tax credits and interest deductions are subtracted directly from the tax a family owes to the Internal Revenue Service and will NOT appear on your billing statement from Texas State University.
Texas State University's intent is not to offer tax advice but to alert students and parents of the potential tax credit. Please contact a tax professional or the IRS at (800) 829-1040 or the IRS Office of Public Liaison at (202) 622-2970 for details.
More Information:
IRS Tax Information for Students
NACUBO TRA97 Student Resource Page
FAQ - Frequently Asked Questions
What is Form 1098-T? (Tuition Payments Statement)
What do the amounts located on the form represent?
Why don’t the amounts shown on my 1098-T match the amounts we were charged for tuition last year?
Where are the payments we made for the Spring semester?
What are Qualified Tuition and Expenses?
What are Non-Qualified Expenses?
How do I claim a credit or deduction?
Can I get another form mailed to me?
Why didn’t I receive a 1098-T in the mail?
What do I do if I didn't get a 1098-T?
What was I billed for tuition in the prior calendar year?
What if I have further questions?
Can I view my 1098-T online?
Your 1098-T form and financial information will be available online after January 31st. To have your 1098-T sent electronically to you via email, go to the following website and follow the instructions below. Once you are able to access your records, you will see an option to “Receive 1098-T Forms Electronically”. You will check the box “ Texas State ” and write in the email address that you want the form sent to.
To access your 1098-T report, follow these steps:
- Click on “Access My Record”.
- Enter the Social Security Number and the Last Name of the Student.
- If you don’t have a PIN number, leave PIN blank and click on “Log in”. You will be prompted to create a PIN number.
- To create a PIN number, you’ll need First Name of student, Mother’s maiden name, and student’s birthday.
- You will create a 4 digit PIN number, and click “Finish”
- Click on the View My 1098-T form link to view the front of the form. The link is located on the left side of the screen.
- If you get the message “Form is not available” you may not have paid any tuition payments in the prior calendar year. You can access other calendar years on this website.
- Click on the View My Financial Information link to view the back of the form. The link is located on the left side of the screen.
- When you view the back of the form, you will see that there are underlined and highlighted areas. Click on any underlined link to view details.
- To print the form and any details use the Print options available.
What is Form 1098-T? (Tuition Payments Statement)
Form 1098-T is provided to help you determine if you are eligible to claim a Hope Scholarship or Lifetime Learning Credit on your income tax return. If you are claimed as a dependant on someone else’s tax return, they might be eligible to receive the credit(s).
What do the amounts located on the form represent?
Box 1 represents the amount of qualified tuition paid on a cash basis (not billed) at Texas State for the prior calendar year from January 1 through December 31. For example, amounts that were paid in December for the Spring semester will appear on the 1098-T for the calendar year that December falls in. You can view these details on page 2 of the 1098-T form by going online to www.1098t.com and viewing the “Financial Information” link on the webpage. Click on any underlined amounts on that page, and you will see details that represent that amount.
Box 4 represents the total of all scholarships or grants administered and processed by the eligible educational institution. The amount of scholarships or grants for the calendar year reduce the amount of any allowable tuition and fees deduction or the education credit you may claim for the year.
Box 6 is checked if the student has paid during the calendar year for a future semester. (For example, payment is made in December for the subsequent Spring semester.)
Box 8 is checked if you have been a student for 6 credit hours (half time) or more for one academic period that began during the calendar year.
Why don’t the amounts shown on my 1098-T match the amounts we were charged for tuition last year?
Texas State reports the amounts that you paid during the calendar year, not the amounts billed. The IRS requires that the University choose one of two possible reporting methods, cash or accrual. Texas State reports on a cash basis.
Where are the payments we made for the Spring semester?
Texas State University reports the total amount of payments received during the calendar year. If payments for Spring were made in December, the payments will be included in the 1098-T form for December’s calendar year.
What are Qualified Tuition and Expenses?
Qualified higher education expenses means tuition, fees, books, supplies, and equipment required for enrollment or attendance at an eligible educational institution that were paid from Jan 1 to December 31 of the tax year.
http://www.irs.gov/taxtopics/tc313.html
What are Non-Qualified Expenses?
The University counts as non-qualified expenses room and board, student activities, courses not required for the degree program, insurance, equipment, transportation, or other similar personal, living or family expenses.
Who can claim a Hope or Lifetime Learning Tax Credit or the Higher Education Tuition and Fees Deduction?
An eligible taxpayer who incurred the cost of the qualified tuition payments may claim them. An eligible taxpayer may be the student or, if the student is a dependent for federal income tax purposes, the person (e.g., parent) claiming the student as a dependent. A student who is a dependent cannot claim the tax credits or deduction on his or her own tax return.
If an employee of the university has tuition or fees paid by the university, the employee cannot claim the tuition or fees paid by the university as a tax credit or deduction even if the tuition or fees paid by the university is included on the 1098-T.
I paid my qualified tuition and expenses with student loans or scholarships. Can I still claim a Hope or Lifetime Learning Credit or the Higher Education Tuition and Fees Deduction?
Loan funds should be considered in the same manner as cash payments when calculating a Hope or the Lifetime Learning Tax Credit or the Higher Education Tuition and Fees deduction. However, any scholarships, grants, or other non-taxable aid must be deducted from the amount of qualified tuition and related expenses paid to calculate the education credits or deductions.
How do I claim a credit or deduction?
The university cannot advise students on the preparation of their tax return. Information for calculating a credit or deduction can be found in IRS Publication 970, which is available at www.1098T.com or www.irs.gov.
Where was my form mailed?
Texas State mailed the 1098-T forms based on the address provided by the students to the Registrar’s Office. Forms were mailed to permanent addresses if available. If you opted for electronic delivery you would not have received in the mail.
Can I get another form mailed to me?
No, we are not able to re-mail the forms to you. You can access these forms via the website listed below.
Why didn’t I receive a 1098-T in the mail for this tax year?
There are several possibilities: 1) You attended Texas State in the spring semester of that calendar year but you paid the tuition and fees in December of the prior calendar year. 2) Your mailing address or permanent address on file is incorrect. 3) Your tuition amounts consisted of only non-credit courses. 4) You opted for electronic delivery of your 1098-T form. 5) You do not have a valid SSN or Taxpayer ID on file with the Registrar’s Office.
What do I do if I didn't get a 1098-T?
If you did not receive a form and should have, you can print your form online by going to www.1098t.com.
When I go online and access my record, my record only shows “The 1098-T information is not available”
The system creates this message when there is no information to display. The student did not pay any amounts during the calendar year, but likely paid amounts in December of the prior year for the calendar year reported.
Who prepared Form 1098-T?
Various offices provide data to our third-party vendor, ACS, which in-turn prepares the 1098-T forms for printing and online presentment.
If I receive Form 1098-T, does it mean I qualify for the Hope Scholarship or Lifetime Learning Tax Credits?
Not necessarily, the University is required to provide Form 1098-T to individuals who paid for qualified tuition and fees during the prior calendar year. Please consult with a qualified tax preparer or CPA to make an individual determination.
There are prior year adjustments on the form (Box 3 and 5) but these fields have not been populated on past forms. Why?
Beginning in tax year 2004, educational institutions must also report certain amounts to the IRS pertaining to prior year reductions to qualified tuition and related expenses as well as reductions to scholarship and/or grant amounts for a prior year.
I took non-credit courses last year that were required by the university before I could enroll. Why are these amounts not shown on the 1098-T?
The university does not generate 1098-T information for non-credit courses, even if they were required by the university.
What was I billed for tuition in the prior calendar year?
Please refer to receipts and bills from the university for this information. If you need more detail, you can view details of your financial transactions online by accessing your records via CATSWEB. Go to “Student Services” then to “Financial Information”.
What if I have further questions?
Texas State University has sent the forms in compliance with IRS guidelines. However, we can not offer any tax advice on this issue. If you have further questions, please utilize the resources at the links below.
For additional information, please consult the following:
www.1098t.com (See instructions above)
www.irs.gov: Find Form 8863 on the IRS website to calculate education tax credits.
TeleTax Topics: Listen to pre-recorded messages covering tax information by calling: 1-800-829-4477. Topic 605 is Education credits.
Internal Revenue Service: 1-800-829-1040 To obtain tax forms 1-800-829-3676.
Student Business Services: To clarify information related to tuition and fee payments, billing and third-part gift aid and adjustments.
Registrar’s Office: To explain how to provide or correct your social security number and to make updates to students' addresses in the mainframe.
Financial Aid Office: To clarify information related to gift aid, scholarships, grants, loans and gift aid adjustments.