In 1997, the Taxpayer Relief Act established two education tax credits and a deduction for student loan interest. These credits are explained in detail in Publication 970 from the IRS. Eligible educational institutions are subject to IRS reporting requirements and must report each student enrolled for whom a reportable transaction was made during the tax year. Alfred State College (ASC) reports payments received for qualified tuition and related expenses (Box 1). Please note the term tax year refers to January 1 - December 31.
When filing a federal tax return, you (the student), or a person who can claim you as a dependent, may be eligible for an education tax credit for qualified tuition, fees, and related expenses that were paid for out of pocket during the tax year. The 1098-T form provides information that will assist in determining eligibility for a tax credit when preparing a federal tax return.
Receiving the 1098-T form does not mean you necessarily qualify for a tax credit. If you have questions about how to calculate your education tax credit, you should consult your tax professional or refer to the IRS website. ASC cannot offer advice on tax matters.
When can I expect to receive my 1098-T form?
ASC contracted Heartland ECSI to produce the 1098-T form electronically and by mail. If you can provide consent to receive your 1098-T electronically, you will be able to access the form on-line. Heartland will email the students as soon as their 1098-T form is available. Students who do not provide the electronic consent will receive the 1098-T form in the mail. The form will be mailed by January 31 after the completion of the tax year. You may also access the information at Finances under my.AlfredState.edu. ASC will post a student announcement when the 1098-T information is available.
How can I determine whether I will receive a 1098-T form in the mail?
Log into Finances under my.AlfredState.edu to access the "View 1098-T Tax Information". See How do I access my account to obtain my 1098-T information? below for instructions. The first sentence located in the paragraph just above your 1098-T representation will indicate whether the form was sent to you.
Where was my 1098-T tax form mailed?
The IRS mandates that 1098-T tax forms be mailed to your address that we have on file. If you have not previously provided your address or if it is no longer valid, you must update your address through Registration under my.AlfredState.edu. There is an icon for Update Personal Information. Please note that invalid addresses will cause delay in delivering the information to you. A representation of your 1098-T form is also available through Finances under my.AlfredState.edu (see How do I access my account to obtain my 1098-T information? below for instructions). The address where your 1098-T form was sent is included on the form.
Can I request a copy of my 1098-T be sent to me or my Tax Preparer by email or fax?
The quickest way to obtain your 1098-T information is via the Heartland ECSI website. Visit their website and either login to your account using your login from prior years, or select 'First Time Students' to create an account.
Why is my social security number missing from my 1098-T?
If we do not have your social security number on file, it will not be included on your 1098-T tax form. When we do not have your social security number on file, we are required by the IRS to attempt to obtain it from you. A Request for Student’s Taxpayer Identification Number (Substitute Form W-9S) was mailed to your address on record between October and November during the tax year. If a response is not received by December 31 of the tax year, your 1098-T form will not contain a social security number.
Failure to furnish correct SSN or ITIN
Per IRS instruction on page two of the W-9S form located under the heading "Penalties", if you fail to furnish your correct SSN or ITIN to the requester you are subject to a penalty of $50 unless your failure is due to reasonable cause and not to willful neglect.
Who is excluded from receiving a 1098-T form?
We are not required to report to the IRS or to furnish a 1098-T form to you, if:
- You were enrolled in courses for which no academic credit was offered, even if you were otherwise enrolled in a degree program.
- You were a non-resident alien (unless you specifically requested a 1098-T).
- Your qualified tuition and related expenses were entirely waived or paid by scholarships, grants or third parties such as employer or federal/state government agency.
What information is provided on my 1098-T tax form?
Below is a brief explanation of the form contents:
- Box 1: Shows the total payments received for qualified tuition and expenses by ASC during the tax year. This number is capped at the total of qualified tuition and expenses billed during the tax year.
- Box 2: This box is blank.
- Box 3: This box is blank.
- Box 4: This box will show an adjusted amount if you dropped classes or your schedule was adjusted during the tax year resulting in a reduction in qualified tuition and related expenses affecting amounts reported in a previous reporting year after 2002. 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: This box contains the total amount of any scholarships, grants, third party payments, or tuition and/or fee waivers you were eligible for that were paid toward your costs of attendance. If you received additional plans during the tax year for previous reporting periods, those amounts will be included in this box.
- Box 6: If there were any grant and/or scholarship reductions on your account during the tax affecting amounts reported in a prior reporting year after 2002, those adjustments will show 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 a prior year 1098-T.
- Box 7: This box is checked if the amount in box 1 includes amounts for an academic period that begins in January through March following the tax year.
- Box 8: This box is checked if you were at least a half-time student (6 credits) during any academic period that began during the tax year.
- Box 9 and 10: These boxes do not apply to ASC or ASC current/former students.
Where can I obtain detail of the amounts entered in the boxes of my 1098-T?
The detailed breakdown is available online. To view the information, log into Finances under my.AlfredState.edu (see How do I access my account to obtain my 1098-T information? below for instructions).
In addition to my 1098-T information, is additional information regarding my tuition and fee account activity available to assist in the preparation of my tax return?
It is the responsibility of the student or the person claiming a tax credit to retain financial records needed for tax preparation. It is not up to the school to provide payment records. You may also follow the steps below to access your Account Detail by Term.
- Log into Finances under my.AlfredState.edu
- Select View Account Detail
Alfred State College bills by term, but the 1098-T capture amounts billed or paid during a specific calendar year.
How do I access my account to obtain my 1098-T information?
- Log into Finances under my.AlfredState.edu
- Select View and Print 1098-T Form
If I have additional questions about my 1098-T tax form, who do I contact?
If you have additional questions about your 1098-T tax form, call Student Financial Services Office at 607-587-4253 or 1-800-425-3733 or you can contact us by email at: firstname.lastname@example.org.
Will my 1098-T Tuition Statement information be provided to the IRS?
Yes. We are required to submit an electronic version of your 1098-T information to the IRS by March 31.
Where can I get assistance on how to report information on my 1098-T tax form?
You should consult your tax professional for assistance with tax return preparation and claiming an educational tax credit/benefit.
IRS Tax Preparation Information Resources and Assistance
- IRS Website
- IRS Telephone Assistance Hotline: 1-800-829-1040