1098T Frequently Asked Questions
What is a 1098-T?
Form 1098-T : Tuition Statement is an informational return that educational institutions are required to issue to each student that is enrolled and for whom a reportable transaction is made.
The 1098-T provides tax information to both the taxpayer and the IRS which may be useful in determining eligibility for tax credits and/or deductions. Either the student or the person that claims the student as a dependent may be eligible for tax credits and/or deductions on his/her individual income tax return for qualified tuition and related expenses.
Please note that the 1098-T may not provide all of the information you need to determine eligibility and you will also need your personal financial records. Eligibility for any tax benefit depends upon your individual facts and circumstances. The University cannot provide tax advice. Please consult the IRS or a tax professional to find out more about education credits and deductions and your eligibility. You may also refer to the resource links above for additional information.
When and where will the 1098-T be mailed?
Form 1098-T will be sent via U.S. Mail no later than January 31st.
Forms will be mailed to the permanent address (or local address if no permanent address is provided) listed on the Student Record as of midnight Monday, December 31, 2012. You can verify or update your permanent address through Raiderlink.
Is the 1098-T available electronically?
Texas Tech University has made it even easier for students to access and view or print 1098-T tax forms when they become available each year. Students that have accepted the Global Electronic Consent during registration or have completed the paper ElectronicConsentform may access their 1098-T from the Raiderlink portal and completing the steps below.
- Click on the TTU MyTech tab in Raiderlink
- Click on the Student Business Services link in the Action Items box
- Click on the 1098-T View Online link
- View your 1098-T form in .pdf format and print if desired
Why did I receive a 1098-T?
Internal Revenue Code §6050S provides that educational institutions are required to file information returns with the IRS and furnish statements to taxpayers for each student that is enrolled and for whom a reportable transaction is made.
Why didn’t I receive a 1098-T?
There are a couple of reasons why you may not have received a 1098-T:
- If you received more scholarships and/or grants during the calendar year than the amount of qualified tuition and fees billed during the calendar year, then a 1098-T will not be issued.
- If the full amount of qualified tuition and fees billed during the calendar year were paid by a third party through a formal billing arrangement with the University (e.g., only the third party was billed and a separate financial account was not maintained for the student), then a 1098-T will not be issued.
- If you are a nonresident alien for tax purposes, then a 1098-T may not be issued. Educational institutions are not required to report tuition information for students that are nonresident aliens for tax purposes.
- If your address is not current on your Student Record, then a 1098-T may have been sent to an old or incorrect address.
How do I request a duplicate 1098-T?
Please contact Student Business Services if you have questions about your 1098T form.
- Send by fax to (806) 742-6424
- Send by email to tax.1098T@ttu.edu
- Send by mail to: TEXAS TECH UNIVERSITY
LUBBOCK, TEXAS 79409
Please note that Texas Tech University is prohibited from discussing or disclosing any student information over the telephone or to anyone other than the student themselves. The University cannot send a student’s 1098-T directly to a parent or tax preparer. The student will need to provide the 1098-T to his/her parent or tax preparer.
Federal law requires and ensures privacy of information through FERPA – the Family Education Rights and Privacy Act. Find specific details about FERPA and the privacy of information at (http://www.ed.gov/policy/gen/guid/fpco/ferpa/students.html). For access to tax information and for faster responses to your inquiries, please follow all instructions and required procedures.
What are the amounts reported on the 1098-T?
Box 2 reports amounts billed for qualified tuition and related expenses. An institution may choose to report either payments received (Box 1) or amounts billed (Box 2) for qualified educational expenses. Texas Tech University reports amounts billed (Box 2); therefore, the amount in Box 2 of Form 1098-T may be different than what you actually paid. When figuring eligibility for education tax benefits, use only the amounts you paid out-of-pocket in 2012 based on your financial records.
Box 4 reports adjustments made to qualified tuition and related expenses reported on a prior year Form 1098-T in Box 2. This may affect the amount of any educational tax benefits you claim for the prior year.
Box 5 reports the total amount of scholarships and grants administered and processed on your student account during the calendar year. Box 5 does not include loans or other scholarships/grants that were not administered or processed by Texas Tech University Student Financial Aid Office. The amount reported in Box 5 is to assist you in determining eligibility for tax credits only, NOT for determining taxability of such scholarships. Scholarships from Texas Tech University or from other sources may or may not be taxable.
Box 6 reports adjustments made to scholarships and grants reported on a prior year Form 1098-T in Box 4. This may affect the amount of any educational tax benefits you claim for the prior year.
There are three additional information boxes that may have a check mark in them. Box 7, if checked, indicates that Box 2 includes amounts for an academic period beginning in the next calendar year. Box 8, if checked, indicates that you were considered to be enrolled at least half-time for one or more terms during the tax year.
Box 9, if checked, indicates that you were enrolled in a graduate program for one or more terms during the tax year.
Since Texas Tech University reports amounts when billed and not when paid, received or posted Box 1, Box 3 and Box 10 are not used.
Box descriptions can be found at the bottom of the 1098-T itself and additional information and descriptions can be found on the IRS website (www.irs.gov) keyword "1098-T".
The University cannot provide tax advice. Please consult the IRS or a tax professional to find out more about your eligibility for tax credits and/or the taxability of your scholarships. You may also refer to the resource links above for additional information.
What are the qualified tuition and related expenses?
Box 2 reports amounts billed for qualified tuition and related expenses. The IRS defines qualified tuition and related expenses as "tuition and fees required for the enrollment or attendance of a student for a course of instruction at an eligible institution." For 1098-T reporting purposes, the following are examples of items that are included and items that are not included as qualified tuition and related expenses (it is not an all-inclusive list):
The amount reported in Box 2 for qualified tuition and related expenses is reduced by tuition waivers granted under IRC §117(d) to employees, including eligible research or teaching assistants.
Please consult the IRS or a tax professional for more information on qualified tuition and related expenses. You may also refer to the resource links above for additional information.
Why doesn’t my 1098-T match what I paid?
There are a couple of reasons why the 1098-T may not match your records.
- Texas Tech University reports amounts billed (Box 2); therefore, the amount in Box 2 of Form 1098-T may be different than what you actually paid during the calendar year. When figuring eligibility for education tax benefits, use only the amounts you paid out-of-pocket in 2012 based on your financial records.
- Some items are not included in qualified tuition and related fees for 1098-T reporting purposes. Please refer to the "What are the qualified tuition and related expenses?" FAQ for more information.
What other information do I need?
The 1098-T as designed and regulated by the IRS does not contain all of the information needed to claim an education tax benefit. Most of the information needed must come from the student’s personal financial records of what the student paid during the calendar year. Each taxpayer and his/her tax advisor must make the final determination of qualifying expenses, eligibility for a tax credit or deduction, and taxability of any scholarships received.
What do I do if there is an error on my 1098-T?
Please read the information available on the resource links provided above. If you still feel there is an error, please contact Student Business Services by sending an email to tax.1098T@ttu.edu for assistance.
If the SSN or TIN on your 1098-T is incorrect, please refer to the "What do I do if the SSN or TIN on my 1098-T is incorrect?" FAQ for more information.
What do I do if the SSN or TIN on my 1098-T is incorrect?
If your social security number (SSN) or taxpayer identification number (TIN) is incorrect, please complete IRS Form W-9S (www.irs.gov) and return it to Student Business Services by fax, mail or in person. A corrected 1098-T will then be issued and mailed to your permanent address.
- Send by fax to (806) 742-6424
- Send by mail to
TEXAS TECH UNIVERSITY
LUBBOCK, TEXAS 79409
Will a copy of the 1098-T be sent to the IRS?
Yes. Internal Revenue Code §6050S requires educational institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for educational tax credits. The annual deadline for the University to file the required tax information electronically with the IRS is March 31, although data may be transmitted earlier as circumstances allow.
Does the 1098-T have to be attached to my tax return?
No. There is no requirement to attach the 1098-T to your tax return.
Is there an IRS Publication n Educational tax issues?
Yes. Please see Publication 970: Tax Benefits for Education. You can download this publication at http://www.irs.gov/pub/irs-pdf/p970.pdf.
What if I still have questions?
Please read the information available on the resource links provided above. If you still have a question regarding an amount reported on the 1098-T, please contact Student Business Services by sending an email to tax.1098T@ttu.edu for assistance.
NOTE: Please be advised that Texas Tech University cannot provide legal, tax, or accounting advice to students and is not responsible for any use you make of general information provided to you in response to a question.