Form 1098-T Frequently Asked Questions
- What is Form 1098-T?
- What form do I use to submit my SSN(TIN) to Lehigh University?
- 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 Box 2 blank?
- Where can I get additional information about the amounts listed on my form 1098-T?
- Why is the payment amount in Box 1 less than the total payments I made during 2018?
- What is included as payments in Box 1?
- My payments for Spring 2018 does not appear to be include in Box 1 even though my spring semester payment was made in January 2018. Why?
- Where can I get additional information about whether I'm eligible for any tax benefits?
WHAT IS FORM 1098-T ?
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 American Opportunity Credit or Lifetime Learning Credit.
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.
WILL I GET A FORM 1098-T FROM LEHIGH UNIVERSITY?
You should receive a form 1098-T if you were a student taking any course(s) for credit at Lehigh University during the semesters of Spring 2018, Summer 2018, Fall 2018 or Winter 2018, and you are a citizen or permanent resident of the United States of America. You will also receive a Form 1098-T if you were charged and paid for any Spring 2019 course(s) prior to December 31, 2018.
WHEN WILL I RECEIVE MY FORM 1098-T ?
The University will provide Form 1098-T’s by January 31st.
If you consented to receive the form electronically, you will receive an email notification when Form 1098-T is available in the eBill Suite. Otherwise, the form will be mailed to your home address.
TO WHAT ADDRESS WILL MY FORM 1098-T BE MAILED?
If you did not consent to electronic delivery, 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.
WHAT HAPPENS IF AMOUNTS REPORTED ON A PRIOR YEAR’S FORM 1098-T WERE ADJUSTED THIS YEAR?
In general, Form 1098-T will include amounts in Box 4 (prior year adjustments to amounts billed or payments received for qualified tuition and related expenses) and Box 6 (prior year adjustments to scholarships and grants) if you had a change for any prior year 1098-T reported amounts. For 2018, Box 3 (Change in reporting method) will be checked and Box 4 will be blank as a result of the IRS mandate that all educational institutions must report Payments Received.
WHY IS BOX 2 BLANK?
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) Lehigh billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, Lehigh will report in Box 1 the amount of QTRE you paid during the year.
WHERE CAN I GET ADDITIONAL INFORMATION ABOUT THE AMOUNTS LISTED ON MY FORM 1098-T ?
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".
WHY IS MY PAYMENT AMOUNT IN BOX 1 LESS THAN THE TOTAL PAYMENTS I MADE DURING 2018?
The amount of your payment reported in Box 1 is limited by the total amount of Qualified Tuition and Related Expenses billed during 2018 calendar year.
WHAT IS INCLUDED AS PAYMENTS IN BOX 1?
Payments in Box 1 include all your personal payments and educational loans, as well as most scholarships and grants limited by the total amount of Qualified Tuition and Related Expenses billed during the 2018 calendar year.
MY PAYMENT FOR SPRING 2018 DOES NOT APPEAR TO BE INCLUDED IN BOX 1 EVEN THOUGH MY SPRING SEMESTER PAYMENT WAS MADE IN JANUARY 2018. WHY?
Your Box 1 payments are limited by the amount of Qualified Tuition and Related Expenses (QTRE) billed during 2018. If your Spring Semester 2018 expenses were charged in December 2017, your payment made in January 2018 may not increase the amount reported in Box 1 by the full amount of your payment because of the QTRE limitation. However even though your January 2018 payment may not be included in Box 1, that payment may still be eligible toward your 2018 educational tax benefit calculation if the taxpayer is able to use their own financial records and/or detail from their student account statements to substantiate their claim. Please see IRS Publication 970 for additional information.
WHERE CAN I GET ADDITIONAL INFORMATION ABOUT WHETHER I’M ELIGIBLE FOR ANY TAX BENEFITS?
As in all matters related to the tax implications of education expenses, Lehigh University will be unable to advise parents and students. Lehigh University cannot determine if you are eligible for either of the credits or the amount of credit for which you may qualify. We strongly encourage you to speak with a qualified tax advisor or the IRS. 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/