Tax Benefits for Education

Tax Benefits for Education: Information Center (www.irs.gov)


Form 1098-T Access
 

My OHIO Student Center 1. Sign in to My OHIO using your OHIO ID and password
2. Click on the Accounts Tab
3. Sign into My OHIO Student Center
4. Click on the "other finances" drop down box
5. Choose "View 1098-T"
 
Authorized User 1. Go to www.ohio.edu/bursar
2. Choose the Authorized User link on the left and sign in
3. Choose the View 1098-T link

 

 

Form 1098-T Information

 

 

  • Per Internal Revenue Service guidelines, universities choose to complete either 'Payments Received' or 'Amount Billed' but not both. Ohio University has elected to complete 'Amount Billed.'
  • Please share the 1098-T information and your payment records with your tax advisor to determine your eligibility for education tax credits. Ohio University will not provide tax advice.
  • Payment receipts can be accessed by selecting the 'Make a Payment' link then selecting 'Payment Information.' The box titled 'Your Recent Payments' will list all personal payments received by Ohio University. Use student loan documentation to help determine payment dates and amounts.

 

Frequently Asked Questions
 

Where can I access Form 1098-T for prior tax years?

What is Form 1098-T (Tuition Statement)?

What is considered qualified tuition and related expenses?

Will I receive Form 1098-T?

If I receive Form 1098-T, does it mean I qualify for a tax credit?

How do I get a copy or reprint a copy of my Form 1098-T?

Why does Form 1098-T only show transactions for the calendar year and not the academic year?

I am attending Ohio University for Spring Semester 2014, but some or all of those amounts are missing from my Form 1098-T. Why is that?

Where do I find information about what I paid to the University in 2013?

I paid my qualified tuition and related expenses with student loans. Can I still claim the American Opportunity Credit?

What do the amounts on the form represent?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Where can I access Form 1098-T for prior tax years?

Student Access: Tax Years 2007 through 2013
  • Sign in to My OHIO
  • From the Account tab, sign in to your My OHIO Student Center
  • In the Finances section, choose the Make a Payment link
  • Choose the 1098T & Historical eBills Link on the menu bar

Authorized User Access: Tax Years 2007 through 2011

  • Sign in to the authorized user portal:  Authorized User
  • Choose the Make a Payment link
  • Choose the 1098T & Historical eBills link on the menu bar

Student Access: Tax Year 2006 and prior
Forms for tax year 2006 and prior can be accessed at the above link. Student OHIO ID and password are required.

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What is Form 1098-T (Tuition Statement)?
Each year, Ohio University mails an IRS Form 1098-T to all students who had qualified tuition and related expenses billed to them during the previous calendar year. Form 1098-T serves to alert students that they may be eligible for federal income tax education credits. This form is informational only and should not be considered as tax opinion or advice. Receipt of Form 1098-T does not indicate eligibility for the tax credit. Please consult with a qualified tax preparer or review IRS Publication 970, Tax Benefits for Higher Education to make an individual determination of eligibility. (top)

What is considered qualified tuition and related expenses?
Regulations define qualified tuition and related expenses as: fees required to be paid to the institution as a condition of the students' enrollment or attendance. Specifically excluded are the cost of room and board, insurance, medical expenses (such as student health fees), transportation/parking, and similar personal, living, or family expenses.(top)

Will I receive Form 1098-T?
Every Ohio University student whose account had financial transactions during the calendar year will have online access to their Form 1098-T or receive it in paper form in January.Receiving Form 1098-T does not necessarily indicate that you are entitled to claim any of the education-related tax credits or deductions. (top)

If I receive Form 1098-T, does it mean I qualify for a tax credit?
Not necessarily. Determination of eligibility is the responsibility of the taxpayer. Please consult with a qualified tax preparer or review IRS Publication 970, Tax Benefits for Higher Education to make an individual determination. (top)

How do I get a copy or reprint a copy of my Form 1098-T?
You can print a copy of your Form 1098-T by accessing your My OHIO Student Center or the Authorized User Application. (top)

Why does Form 1098-T only show transactions for the calendar year and not the academic year?
Ohio University is required by the IRS to report on a calendar year basis which is January 1 to December 31.The University can only report amounts to the IRS that posted to the student account between those dates. (top)

I am attending Ohio University for Spring Semester 2013, but some or all of those amounts are missing from my Form 1098-T. Why is that?
Form 1098-T reports only those transactions that posted to your student account during the calendar year. Spring semester begins in January 2014; if you made changes (registered, added, or dropped classes) after December 31, 2013, those amounts will be reported on the 2014 Form 1098-T. The 2013 Form 1098-T will be available in January 2015. (top)

Where do I find information about what I paid to the University in 2013?
Please refer to your cancelled checks, credit card statements, and William D. Ford Direct Loan disbursement notifications for details regarding payment amounts and dates. Tax credit is available for payments made between January 1, 2013 and December 31, 2013. (top)

I paid my qualified tuition and related expenses with student loans. Can I still claim the American Opportunity Credit?
Yes. Loan funds should be considered in the same manner as cash payments.  The credit is claimed in the year in which the loan is disbursed, not in the year in which the loan is repaid. Please review the direct loan disbursement notification you received from Direct Lending for disbursement dates. (top)

What do the amounts on the form represent? (top)

Box 1: Payments received for qualified tuition and related expenses: This box will be left blank. Universities may choose whether to report payments received or amounts billed on student accounts; they need not report both amounts. Ohio University has chosen to report qualified tuition and related expense amounts billed (see Box 2). 

Box 2Amounts billed for qualified tuition and related expenses: This box will contain the sum of all qualified tuition and related expenses billed to a student's account during a calendar year, less any amounts by which tuition was reduced. Amounts billed to a student account for housing, fines, insurance or non-required fees are not considered qualified tuition and related expenses and are omitted from Box 2.  

Please note that when the American Opportunity Credit, Hope Credit or Lifetime Learning Credit is taken on the federal income tax return, the calculation of the credit is based on the amount of qualified educational expenses actually paid by the taxpayer during the calendar year. The University reports amounts billed to a student's account. Therefore, the amount you use to calculate your education credit will not necessarily be the same as the amount that appears in Box 2. You should use the information on the 1098-T form in conjunction with your own payment records to determine eligibility for the credits.  

If you have questions about how to compute your education tax credit, you should consult a qualified tax professional or review IRS Publication 970, Tax Benefits for Higher Education

Box 3: This box will be left blank, since Ohio University has not changed its current method of reporting from the previous year (2012). 

Box 4Adjustments made for a prior year: The amount in this box will be the sum of all adjustments in tuition related to amounts billed in a prior year. This amount may reduce any allowable education credit you may claim for the prior year.

Box 5Scholarships or grants: This box contains the sum of all scholarships and/or grants Ohio University administered and processed for the student's account during the calendar year. Scholarships that pay for tuition (qualified scholarships) as well as for housing and other expenses (non-qualified scholarships) will be included in this amount. Tuition waivers and payments received from third parties that are applied to student account for educational expenses are also included in this box.

Box 6: Adjustments to scholarships or grants for a prior year: Adjustments in scholarship amounts related to scholarships reported in a previous year are included in this box. This amount may affect the amount of any allowable tuition and fees deduction or education credit you may claim for the prior year.

Box 7: This box will be checked if the amount reported in Box 2 includes tuition or registration fees billed to a student account in the current year that pay for a semester beginning in the next calendar year. For example, tuition billed in December 2013 for spring semester 2014 will be reported on your 2013 Form 1098-T.

Box 8: A check in this box indicates that you are or have been enrolled at Ohio University at least half-time (6 hours or more) for at least one semester during the calendar year. 

Box 9: This box will be checked if you are a student enrolled in a program leading to a graduate-level degree.

Box 10: This box is not used by Ohio University so it will be left blank.

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