FAQ: IRS Form 1098-T

EXPLANATION OF IRS FORM 1098-T

  • The 1098T tax form is a Tuition Statement provided by higher education institutions and filed with the Internal Revenue Service.
  • The IRS Form 1098T reports payments you have made in a tax year for qualified tuition and related expenses, as well as other related information.
  • Depending on your income (or your family’s income, if you are a dependent), whether or not you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9)
  • There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.
  • Exceptions – Forms are not furnished for:
    • Courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program
    • Non-resident alien students, unless requested by the student
    • Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships
    • Students for whom qualified tuition and related expenses are covered by a formal billing arrangement between an institution and the student’s employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense.

Box 1. Payments Received for Qualified Tuition and Related Expenses

Shows the total payments received in the tax year for qualified tuition and related expenses less any reimbursements or refunds being made during the tax year that relate to those payments received during the tax year.

Qualified Tuition and Related Expenses as Defined by the IRS

  • Tuition
  • General Student Fees
  • Class Fees
  • Campus Development Fees

Expenses Not Included

  • Late Charges
  • Application Fees
  • Health Insurance Premiums
  • Payment Plan Fees
  • Room and Board Charges
  • Travel Expenses (Global Connections Trip Expenses)

Box 2. Amounts Billed for Qualified Tuition and Related Expenses
Intentionally left blank.

Box 4. Adjustments Made for a Prior Year
Reductions in charges made for qualified tuition and related expenses made during the calendar year that relate to amounts billed that were reported for any prior year. For example, if you were billed for Spring semester classes in December and withdrew from classes in January, Box 4 reports the decrease in billed tuition due to the withdrawal.

Box 5. Scholarships or Grants
Scholarships or grants processed during the calendar year for the payment of the student’s costs of attendance. Scholarships and grants generally include all payments received from third parties (excluding family members and loan proceeds). This includes payments received from governmental and private entities such as the Department of Veterans Affairs, the Department of Defense, civic and religious organizations, and nonprofit entities.

Box 6. Adjustments to Scholarships or Grants for a Prior Year
Reduction to the amount of scholarships or grants that were reported for any prior year.

Box 7. Indicates, if checked, that Box 1 includes amounts for an academic period beginning in the next calendar year.
For example, if you register for the upcoming Spring semester during December, this box will be marked.

Box 8. Check if at Least Half-Time Student

Box 9. Check if a Graduate Student
Additional information for preparing tax returns is available at www.irs.gov Publication 970 Tax Benefits for Education

 

FAQs

What is the purpose of a 1098-T?

Evangel is required to produce the 1098-T by IRS regulations. It can be used to claim the educational tax benefits outlined in IRS Publication 970. The information on the form is to assist you in completing your tax return. If you need further assistance, please consult a tax advisor.

What does the amount in Box 5 represent?

Box 5 displays the total amount the student was given in scholarships and grants in the tax year.

When is the tax information mailed?

The 1098-T form is mailed each year on or before January 31.

What address do you mail these forms to?

We mail the 1098-T form to the student at their permanent address (home address).

Do I have to send a copy of the 1098-T form to the IRS?

No. You are not required to include the 1098-T form when filing your taxes. The information has been provided electronically to the IRS by Evangel University. We recommend that you keep this information for your tax records.

I misplaced my 1098-T form. May I have another one?

Yes. We can fax, mail or email another copy to you. Contact Office of the Bursar at 417-865-2815 x7700

Is there any reason I might not receive a 1098-T?

Evangel University is not required to send this form to international students, or students who do not currently have a valid Social Security number.