Tax Benefits for Education
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.
What is Form 1098-T (Tuition Statement)?
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 a tax opinion or advice. Receipt of Form 1098-T does not indicate eligibility for the tax credit. Each year, Ohio University issues an IRS Form 1098-T to all students who had qualified tuition and related expenses billed to them during the calendar year (between January 1st and December 31st). (top)
What defines qualified tuition and related expenses?
Internal Revenue Service regulations define qualified tuition and related expenses as fees required to be paid to the institution as a condition of the student’s 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)
Why are my spring semester charges not reflected on Form 1098-T (Box 2)?
Form 1098-T, a tax informational form, reports transactions that post to a student’s account during the calendar year (between January 1st and December 31st). If you registered for, dropped, or adjusted spring semester classes in December (or earlier) of the previous year, those amounts would appear on the previous year’s Form 1098-T. For example, for a student attending spring semester 2017, if the student participated in early spring registration, spring charges would have posted to their student account in December 2016. As a result, those spring charges will be reflected on 2016 Form 1098-T in Box 2. . (top)
Where do I find information about what I paid to the University in 2016?
Please refer to your canceled 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, 2016 and December 31, 2016. (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)
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 2: Amounts 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. (Please note this publication may not be currently available for tax year 2016.)
Box 3: This box will be left blank, since Ohio University has not changed its current method of reporting from the previous year (2015).
Box 4: Adjustments 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 5: Scholarships 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 2016 for spring semester 2017 will be reported on your 2016 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.