Business and Financial Services

Student Accounts

1098T Tax Forms

Overview

All students who were enrolled and billed for qualifying tuition and related expenses for the calendar year 2013 will be sent a 1098-T tax form from Clark University by 1/31/2014. In order to provide this information the student would need to have their social security number on their student record kept by the Registrar. If we do not have your social security number and you would like to receive a form 1098-T, please click here to complete the Social Security Number Update Form.

Instructions for Students

All eligible educational institutions, such as a college or university in which you are enrolled, and an insurer who makes reimbursements or refunds of qualified tuition and related expenses to you must furnish this statement to you. You or the person, who claims you as a dependent, may be able to claim an education credit on Form 1040 or 1040A for qualified tuition and related expenses. Clark University will be reporting billed qualified tuition and related expenses along with the amount of any scholarships or grants that were applied to the student's account during the calendar year.

Clark University can only answer questions on how the form was prepared. Questions regarding your eligibility should be directed to your tax preparer. For more information about any education credits see IRS Publication 970 Tax Benefits for Education, Form 8863, Education Credits, the Form 1040 or 1040A. These can be found at www.irs.gov.

Box 1. Payments received for qualified tuition and related expenses.

Box 2. Amounts billed for qualified tuition and related expenses.

Box 3. If this box is checked, your education institutions has changed its reporting method for 2011.

Box 4. Adjustments made for qualifying tuition for a prior year that was previously reported on a 1098T.

Box 5. Scholarships or grants.

Box 6. Adjustments to scholarships or grants for prior year that was previously reported on a 1098T.

Box 7. Checked if the amount in box 1 or 2 includes amounts for an academic period beginning January – March 2012.

Box 8. Checked if at least half-time student.

Box 9. Checked if a graduate student.

Box 10. Insurance contract reimbursement/refund.

 

Frequently Asked Questions

 

Q:        What’s a 1098-T?

In accordance with the Taxpayer Relief Act of 1997 (TRA97), a 1098-T is a required IRS Tax form that each institution must provide to its Student/Taxpayers.

 

Q:        Why did I get this form?

Clark is required to send you this form so that you can use it to determine if you are eligible and what dollar amount you can claim for either the American Opportunity Credit or Lifetime Learning tax Credits.  For more information on these credits visit the IRS website at: (http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center )

 

Q:        What is it used for?

The information on the 1098-T form is provided to assist each Student/Taxpayer in preparing the IRS FORM 8863 – which is used to claim the American Opportunity or Lifetime Learning Credits. Once complete, the 8863 should be attached to the Student/Taxpayer’s income tax return.

 

Q:        Scholarships and grants in box 5 exceed Amounts billed for qualified tuition and related expenses in box 2, does this mean I have taxable income?

 You will need to contact the IRS or a tax professional to determine the taxability of any scholarships or grants you have received. 

On the 1098T form, Clark is reporting charged billed during the calendar year and scholarships and/or grants disbursed to your accounts during the calendar year.  Since the spring semester is billed in November and scholarships and grants for the spring semester are typically disbursed to the student’s account in January, this sometimes causes the amount in box 5 to exceed the amount in box 2.

 

Q:        Do I have to use the 1098T?

 No, if you are not paying taxes or your income is too high to qualify, you do not have to do anything with this form. If you think you received it in error, please disregard it.

 

Q:        Can someone at the school give me tax advice?

The information provided by Clark is NOT tax advice. It is offered only as general information for Clark students and their families. Please consult a qualified tax expert for advice on computing, claiming, or determining qualification for any tax benefit mentioned in this web site.

 

Q:       How can I get a copy of my 1098-T?

It's easy! Just login to your CUWeb account

  • Choose the Student Services & Financial Aid Tab
  • Click on the Student Account Information option
  • Click on the 1098T Tax Notification option
  • Select the tax year of interest from the drop-down menu box
  • Print the form. Note that you are not required to submit any copy of the 1098-T with your tax return.

 

Q:        Can I get a copy of last year's 1098-T?

Yes, provided that a form was issued to you. Follow the instructions for getting a copy of your 1098-T above, making sure to select the tax year of interest from the drop-down menu box. The current tax year appears in the window by default.

 

Q:        Why didn't I receive a 1098-T from Clark?

There are several possibilities:

  • You have not provided your Social Security number (SSN) to Clark.  If you would like to do so, please complete a Social Security Number Update form which can be found at http://www.clarku.edu/offices/registrar/forms/SSNUpdateForm.pdf.  For assistance with the form, please contact the Registrar’s Office.  Please allow 1 to 2 weeks for your 1098T to be issued.
  • You were a visa student who did not have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) on file. The IRS regulations specify that the University is not required to issue a 1098-T in this situation, unless the student requests the form.
  • You took only non-credit courses during the calendar year. The IRS regulations specify that the University is not required to issue a 1098-T for non-credit courses.

 

Q:        Did we send a copy of this form to the IRS?

Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for the American Opportunity or Lifetime Learning education tax credits. The annual deadline for Clark to file the required tax information electronically to the IRS is March 31, although data may be transmitted earlier as circumstances allow.

 

Q:        What am I supposed to do with the 1098-T form?

Keep it for your records. Since the University sends your 1098-T information to the IRS, there is no need to attach a copy of the form to your tax return. The information contained in the 1098-T will help you to determine if you may claim the education tax credits using IRS Form 8863: Education Credits.

 

Q:        What if my Social Security Number or Name is incorrect on the form?

Reporting to the IRS depends primarily on your SSN and name so it is very important for you to have the correct information on file with the University. Follow these steps to have a corrected 1098-T issued.

  1. Please complete a Social Security Number Update form which can be found at http://www.clarku.edu/offices/registrar/forms/SSNUpdateForm.pdf.  For assistance with the form, please contact the Registrar’s Office.
  2. Once you verify that the changes have been made in the system, contact Student Accounts (studentaccounts@clarku.edu) or 508-421-3801 to issue a corrected 1098T.

 

Q:        What does the check mark in Box 8 mean?

Box 8, if checked, indicates that you were considered to be "enrolled at least half-time" for one or more semesters during the tax year.

Note that a check mark does not guarantee your ability to claim an educational tax credit as additional eligibility requirements must be met.

 

Q:        What does the check mark in Box 9 mean?

Box 9, if checked, indicates that you were enrolled in a graduate program for one or more semesters during the tax year. The University checks this box if you attended as a graduate student for any semester of your enrollment during the tax year.

 

Q:        What if I have more questions?

 If your question is tax related, contact the IRS at www.irs.gov.

If your question concerns the information provided on your 1098T, email Student Accounts (studentaccounts@clarku.edu)  or call 508-421-3801.

 

Further information is available from:

Internal Revenue Service
(800) 829-1040 or TTY (800) 829-4059

¤ Publication 970: Tax Benefits for Higher Education
¤ Tax Topic 605: Education Credits
¤ FAQ: Hope & Lifetime Learning Educational Credits
¤ FAQ: Education & Work-Related Expenses
¤ Tax Trail: Deduction for Higher Education Expense