1098-T Tax Information

1098-T Tax Information

What is a 1098-T and what does it report?

The 1098-T is a Tuition Payment Statement that includes information that colleges and universities are required to issue to determine a student’s eligibility for education tax credits.  This form reports the amount paid by you to the University over the course of the previous calendar year and will assist you or your parents when preparing your federal income tax return.

University of Massachusetts Dartmouth must get your correct identifying number to file Form 1098-T, Tuition Statement, with the IRS and to furnish a statement to you.  This will be your Social Security number (SSN) or, if you are not eligible to obtain an SSN, your individual taxpayer identification number (ITIN).  The IRS will not be able to use the Form 1098-T filed by University of Massachusetts Dartmouth without the SSN/ITIN number.  Form 1098-T contains information about qualified tuition and related expenses to help determine whether you, or the person who can claim you as a dependent, may take either the tuition and fees deduction or claim an education credit to reduce Federal income tax.  For more information, see IRS Pub. 970, Tax benefits for Higher Education.

To provide your SSN or ITIN you must complete and return the UMass Dartmouth W-9S Form to the address provided on the W-9S form.  Do not email the form.  Email is not a secure way to transmit personal information.

The 1098-T processing is changing beginning with calendar year 2018.

What does this mean?

New IRS regulations affecting all colleges and universities require UMass Dartmouth to report payments received within a calendar year for qualified tuition and related expenses.  This information will appear in Box 1 of the 1098-T form.

In previous years, UMass Dartmouth reported qualified tuition and related expenses billed within a calendar year.  This information appeared in Box 2 of the 1098-T form.  Starting with forms for the 2018 calendar year, box 2 will be blank.

In conjunction with this change to reporting payments received, UMass Dartmouth will no longer assess winter or spring semester charges in the month of December.

Winter 2019 and Spring 2019 charges will be assessed and invoiced in January, 2019.

This change will align charges and financial aid disbursements for the winter and spring semesters within the same calendar year.

The 1098-T form you receive for the 2018 calendar year will reflect payments applied to student accounts by December 31, 2018 for qualified tuition and fee expenses for winter, spring, summer and fall semesters that took place during the 2018 calendar year.

 

For additional FAQ please click on the following link: 

https://www.umassp.edu/treasurer/tax-and-compliance/1098-t

 

When will my 1098-T tax form be available, and how can I get it?

In accordance with requirements of the Tax Relief Act of 1997, the 1098-T tax credit form is intended to provide you with information to assist you in determining your eligibility for possible Hope Credits or Lifetime Learning Credits.  This tax credit form will be mailed on or before January 31 each year.  If you do not receive your 1098-T tax credit form, please contact the Bursar's Office at 508-999-8832. If the information on the 1098-T is incorrect, please leave a message on the Tax Credit Line for assistance: 508-999-8919.

Students can obtain their tax information by logging into COIN Student Self-Service account. Once logged in, under the Finance section of the Student Center, select View 1098-T and select the appropriate year.

How do I find the amount I paid in a specific calendar year?

The 1098-T that is available through COIN Student Self-Service provides payments made in a specific calendar year for informational purposes. Also through your COIN access, you are able to view all payments made.  On the Student Center, in the Finance section select the account summary link.  You may view each term for details on charges and payments made.  You may also need to reference cancelled checks, bank statements, or credit card statements to verify these payments.

 

How to read a 1098-T

Box 1:  Payments received for qualified tuition and related expenses.

This box will report payments made toward qualified tuition and related expenses in the calendar year. Payments made to a student’s account for housing, meal plans, health insurance, or other non-required fees will not be included in the Box 1 amount.  For more information on what is considered an eligible or qualified expense, please speak to a tax preparer or visit the IRS website at www.irs.gov.

 

Box 2:  Amounts billed for qualified tuition and related expenses.

This box will now be left blank on all University of Massachusetts Dartmouth 1098-T forms due to a change in reporting method determined by the IRS. Institutions may no longer continue to report amounts billed in Box 2 for tax year 2018 (forms filed in 2019) and beyond.

 

Box 3:

This box shows whether the institution has changed its method of reporting .  This box will be checked for the 2018 1098-T forms since the University of Massachusetts Dartmouth will be changing its current method of reporting from the previous year. Going forward this box will remain blank.

Box 4:  Adjustments made for a prior year

The amount in this box is the sum of all reductions in tuition (refunded or not) and qualified expenses billed, and therefore reported, in a prior year.  This amount is reported as a positive number per IRS requirements.  However, it is actually a decrease to the amount that was reported on a prior year 1098-T.

Box 5: Scholarships and Grants

This box contains the sum of all scholarships and grants that the University of Massachusetts Dartmouth has administered and processed for the student accounts for educational expenses during the calendar year. 

Box 6:  Adjustments to scholarships or grants for a prior year

Decreases of scholarship, financial aid or grant amounts related to scholarships reported in a prior year are included in this box.  This amount is reported as a positive number per IRS requirements.  However, it is actually a decrease to the amount that was reported on the prior year 1098-T.

Box 7:

This box will be blank under the payment method.

Box 8:

A check in this box indicates that you are or have been enrolled at the University of Massachusetts Dartmouth at least half-time for at least one semester during the calendar year.  If you are at least a half-time student for at least one academic period that begins during the year, you meet one of the requirements for the Hope credit.  You do not have to meet the workload requirement to qualify for the Lifetime Learning Credit.

Box 9:

This box will be checked if you are enrolled in a program leading to a graduate-level degree.  If you are enrolled in a graduate program, you are not eligible for the Hope Credit, but you may qualify for the Lifetime Learning Credit.

Box 10:

This box is not used by the University of Massachusetts Dartmouth so it will be left blank.

 

Tax Resources

If you have questions about how to compute your education tax credit, you should consult your tax professional or refer to the IRS.  The University of Massachusetts Dartmouth is not able to provide tax advice.  The following are links for further information on 1098-T forms and tax credits:

 

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