1098-T

Frequently Asked Questions

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Effective January 1, 2018, the IRS requires colleges to report PAYMENTS RECEIVED.  Prior to 2018, Ulster County Community College reported Qualified CHARGES BILLED in Box 2.

What is Form 1098-T?

Form 1098-T is a form that colleges are required to issue to students for the purpose of determining a tax payer's eligibility for various tax credits and/or deductions.

form 2098 screen shot

How do I read my Form 1098-T?

  • Box 1: Payments received for Qualified Tuition and Related Expenses (QTRE) from sources including, but not limited to, cash, check, credit card, scholarships, grants, loans and financial aid.
    • Box 1 will report payments made toward QTRE in a calendar year. Parking tickets, transcripts, and books are examples of items not considered qualified education expenses by the IRS, so payments made toward these charges will not be reflected on the 1098-T.
  • Box 4 will be populated if there were adjustments for a prior year.
  • Box 5 reports the amount of ALL scholarships and grants, as defined by the IRS, disbursed in a calendar year towards the cost of attendance.
  • Box 6 reflects adjustment to a previously reported scholarship or grant.
  • Box 7 will be checked if you are registered and have been billed for the upcoming spring term.

Does every student receive a Form 1098-T?

The IRS does not require a form to be provided for:

  • Courses for which no academic credit is offered, even if the student is enrolled in a degree program
  • Nonresident alien students
  • Students whose qualified tuition and related expenses are entirely covered or paid with scholarships and/or grants

What are Qualified Tuition and Related Expenses (QTRE)?

QTRE's are defined as tuition and fees required for the enrollment or attendance of a student for courses of instruction at an eligible institution. QTRE's do not include parking tickets, transcripts, and books regardless of whether the fee is paid to the institution. Please refer to IRS Publication 970 Tax Benefits for Education for additional guidance. Ulster County Community College cannot legally provide tax advice. Please consult a qualified tax preparer or the IRS if you have tax-related questions.

What does the Form 1098-T Report?

Students will see Box 1 populated to reflect payments made toward QTRE in the previous calendar year. This was new for 2018. In prior years, Ulster County Community College populated Box 2, charges billed. Because we are now required to populate Box 1, Box 2 is no longer used and is grayed out on the form.

What should I do with the 1098-T form?

Keep it for your personal records and share it with your tax preparer. Ulster County Community College sends your 1098-T information to the IRS. The information on the form will help you determine if you may claim various tax credits and/or deductions. Please be aware that the 1098-T captures financial information on a calendar year basis (January 1 to December 31). You can see all of these details on your SUNY Ulster portal student account.

How do I get my form?

Ulster County Community College has partnered with Heartland ECSI to prepare the forms. You can enroll online here to receive your form electronically. If you do not elect this option by January 1, a paper form will be mailed to your PERMANENT HOME address on file. 

If you would like to view your 1098-T online, please go to the ECSI website or log into your SUNY Ulster portal / Student Resources / Banner Self Service / Student & Financial Aid /Tax Forms & Notifications. 

To receive the form:

  • You must have a valid social security number
    • IRS regulations require us to solicit your SSN, and you are subject to an IRS penalty if you fail to furnish your correct SSN to us. If the college does not have your valid SSN on file, we will reach out to request this typically during October-December. You must use IRS form W-9S.
  • You must have a valid address
    • In order to ensure timely and accurate reporting of your form 1098-T each year, please keep all your addresses up to date with the college. You can log onto the SUNY Ulster portal  to update your address under the Student Resources portal / Banner Self service channel /Personal information.

For additional questions on the 1098-T forms you may contact the Student Accounts Office at 845-687-5099.  For questions related to educational tax credits, please contact your tax professional.

 

 

 
   

 

 

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