1098-T Tuition Statement
Utah State University prepares a 1098T form for all eligible students and furnishes it to the IRS. The form indicates that there might be education related expenses that could be claimed as part of the Hope Scholarship or the Lifetime Learning Tax Credit.
Since each individual’s tax liability is subject to various personal factors, students and parents are encouraged to seek additional information directly from the IRS or their personal tax advisors. Utah State University can not provide tax related recommendations or information.
Publication 970(2008), Tax Benefits for Education contains detail information on the related tax information and it can be found at http://www.irs.gov/publications/p970/index.html.
The general IRS web page is www.irs.gov.
The detail information concerning student tuition and other expenses is available by January 31st. Login to the student portal (http://my.usu.edu). Select 'Finances' from the Tools menu and then select the '1098T Statement'. Enter the year for the tax information that you want to see. This will provide the detail information that you or your tax advisor will need to determine what, if any, amounts apply to you for tax purposes.
1098-T Tuition Statement
The electronic 1098-T Tuition Statement is available online using the following steps:
- Select ‘Finances’ from the Tools menu
- Select the ‘1098T Statement’
- Enter the tax year
Form 1098-T Instructions for Student:
You, or the person who can claim you as a dependent, may be able to claim an education credit on Form 1040 or 1040-SR. This statement has been furnished to you by an eligible educational institution in which you are enrolled, or by an insurer who makes reimbursements or refunds of qualified tuition and related expenses to you. This statement is required to support any claim for an education credit. Retain this statement for your records. To see if you qualify for a credit, and for help in calculating the amount of your credit, see Pub. 970, Form 8863, and the Instructions for Form 1040. Also, for more information, go to www.irs.gov/Credits-Deductions/Individuals/Qualified-Ed-Expenses.
Your institution must include its name, address, and information contact telephone number on this statement. It may also include contact information for a service provider. Although the filer or the service provider may be able to answer certain questions about the statement, do not contact the filer or the service provider for explanations of the requirements for (and how to figure) any education credit that you may claim.
Student’s taxpayer identification number (TIN). For your protection, this form may show only the last four digits of your TIN (SSN, ITIN, ATIN, or EIN). However, the issuer has reported your complete TIN to the IRS. Caution: If your TIN is not shown in this box, your school was not able to provide it. Contact your school if you have questions.
Account number. May show an account or other unique number the filer assigned to distinguish your account.
Box 1. Shows the total payments received by an eligible educational institution in 2022 from any source for qualified tuition and related expenses less any reimbursements or refunds made during 2022 that relate to those payments received during 2022.
Box 2. Reserved for future use.
Box 3. Reserved for future use.
Box 4. Shows any adjustment made by an eligible educational institution for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit that you claimed for the prior year (may result in an increase in tax liability for the year of the refund). See “recapture” in the index to Pub. 970 to report a reduction in your education credit or tuition and fees deduction.
Box 5. Shows 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 (including those not reported by the institution) may reduce the amount of the education credit you claim for the year. TIP: You may be able to increase the combined value of an education credit and certain educational assistance (including Pell Grants) if the student includes some or all of the educational assistance in income in the year it is received. For details, see Pub. 970.
Box 6. Shows adjustments to scholarships or grants for a prior year. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year. You may have to file an amended income tax return (Form 1040-X) for the prior year.
Box 7. Shows whether the amount in box 1 includes amounts for an academic period beginning January–March 2023. See Pub. 970 for how to report these amounts.
Box 8. Shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at the reporting institution.
Box 9. Shows whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential.
Box 10. Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer. The amount of reimbursements or refunds for the calendar year may reduce the amount of any education credit you can claim for the year (may result in an increase in tax liability for the year of the refund).
Future developments. For the latest information about developments related to Form 1098-T and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form1098T.
Free File Program. Go to www.irs.gov/FreeFile to see if you qualify for no-cost online federal tax preparation, e-filing, and direct deposit or payment options.
Utah State University conducts business with students electronically. This includes providing the 1098-T Tuition Statement to eligible students electronically in the Banner student system. This is the same system used for registration, financial aid, and other University services.
Social Security Number Required
You are REQUIRED to provide your Social Security Number so that we can send you a correct 1098T and file one with the IRS. To provide your SSN, please fill out this form: a W-9 form. To correct your SSN, please fill out the Change of Information form. Completed forms can be faxed to the Registrar’s Office at 435-797-1110. You may also bring these forms to the Registrar’s Office in person or mail to: USU Registrar, 1600 Old Main Hill, Logan, UT 84322. Failure to provide your SSN may result in a penalty from the IRS. Your SSN will only be used to comply with the 1098-T filing requirements.
Your address is also required for a statement to be generated by the student information system. If you do not provide an address your statement will be generated C/O the Registrar’s Office. You can update your address on the myid.usu.edu site.