Form 1098-T Frequently Asked Questions
- What form do I use to submit my SSN(TIN) to Lehigh University?
- What is Form 1098-T?
- Why is the 1098T important to me?
- Will I get a form 1098-T from Lehigh University?
- When will I receive my form 1098-T?
- To what address will my form 1098-T be mailed?
- What happens if amounts reported on a prior year's form 1098-T were adjusted this year?
- Why is there no amount in box 1 for "Payments received"?
- Where can I get additional information about the amounts listed on my form 1098-T?
- Why aren't amounts for spring semester 2016 included? Why are amounts for spring semester 2017 included?
- Where can I get additional information about whether I'm eligible for any tax benefits?
Form 1098-T is a tax form the University is required to file with the IRS and each student. The form provides information that assists the taxpayer in determining their eligibility for a tax benefit from either the Hope Scholarship Credit or Lifetime Learning Credit, American Opportunity Credit, or a tuition and fees deduction.
What form do I use to submit my SSN(TIN) to Lehigh University?
You can use the W-9s form to submit your SSN to Lehigh University.
You should receive a form 1098-T if you were a student taking any course(s) for credit during the semesters of Spring 2016, Summer 2016, or Fall 2016. You will also receive a Form 1098-T if you were charged for any Spring 2017 course(s) prior to December 31, 2016.
The University will mail Form 1098-T’s by January 31st.
The University will mail Form 1098-T to the student at the student’s home address as listed in the University’s records as of the January date the forms are prepared.
Form 1098-T will include amounts in Box 3 (prior year adjustments to qualified tuition and related expenses) and Box 5 (prior year adjustments to scholarships and grants) if you had a change during 2016 for any prior year 1098-T reported amounts.
Educational institutions have the option of reporting either an amount in Box 1 “Payments received” or Box 2 “Amounts billed for qualified tuition and related expenses”. Lehigh University has chosen the option to report an amount in Box 2. Information about your payments can be found at the same website indicated in the following question.
Additional details about the calculation of the amounts on your 1098-T can be found by logging into the campus portal, clicking on the Banner icon, and following these links: "Student Services", "Student Bursar Office Records", "1098-T Tax Notification".
The amounts in the various boxes on your Form 1098-T include only those transactions that were posted to your student account during the calendar year January 1, 2016 to December 31, 2016.
Lehigh University cannot determine if you are eligible for either of the credits or the amount of credit for which you may qualify. Please consult your tax adviser. The IRS offers free forms, publications and other information at each local IRS office and through the following sources:
- Telephone: 1-800-TAX-FORM
- Website: http://www.irs.gov/
Some additional information can be found in IRS Publication 970, IRS Form 8863, and IRS Form 8917.