Form 1098-T Information
In 1997, Congress passed the Tax Payer Relief Act, which included provisions for the
Hope Scholarship Credit and the Lifetime Learning Credit. Both credits allow certain
taxpayers who have incurred qualified expenses for higher education to take a credit
against their federal income tax liability. The following is general information only and should not be taken as tax advice;
please contact the IRS or a tax professional. The University cannot provide assistance regarding your eligibility or the calculation
of the credit. The following web sites have additional information that may be useful.
Frequently Asked Questions: 1098-T Form
Why did I receive a 1098-T tax form? Am I eligible to claim a tax credit?
Educational institutions are required by law to provide information to students who
qualify for the Hope Scholarship Credit or the Lifetime Learning Credit. Schools,
colleges, and universities report this information to the IRS and to students on Form
1098-T.
Whether you may take advantage of these tax credits depends upon your individual facts
and circumstances. The University cannot provide tax advice, so you may want to consult
the IRS or a tax professional to find out more about the credits and your eligibility.
Please see the resource links above for additional information.
How do I receive a copy of 1098-T Form?
The IRS requires Form 1098-T to be postmarked by January 31 of the following calendar
year. This form is mailed to the student’s permanent address. Address changes may
be made at Banner.ulm.edu
Why did I not receive a 1098-T Form?
The University of Louisiana at Monroe reports qualified tuition and related expenses
by amounts billed. The amount billed must have been recorded in the calendar year
for your tax return. Example: If you registered for your Spring courses in November
or December, they will be included on your current 1098-T. If you registered for your
Spring courses in January, they will be included on your next year’s 1098-T.
Other Reasons:
- Non resident Aliens are not required to be reported.
- Students whose qualified tuition and related expenses are entirely waived or paid
entirely by scholarships or grants are not required to be reported.
What are Qualified and Non-Qualified expenses?
As determined by the Federal Government, qualified expenses are defined as expenses
required by and paid to the institution for enrollment purposes. Examples of non-qualified
expenses are charges for room, board, books, insurance, transportation/parking, and
similar personal, living, or family expenses.
Why doesn’t the amount billed on my 1098-T form match my records?
When reviewing your records please take into consideration your actual billing/registration
dates. The 1098-T form reflects amounts billed in the calendar year. Amounts billed
in prior or next calendar year are not included.
Example: If you registered for your Spring courses in November or December, they will
be included on your current 1098-T. If you registered for your Spring courses in January,
they will be included on your next year’s 1098-T.
1098-T Form Box Fill-in Instructions
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.
The University of Louisiana at Monroe has chosen to report qualified tuition and related
expense amounts billed.
Box 2: Amounts billed for qualified tuition and related expenses: In general, this box will contain the sum of all tuition, registration and required
registration fees billed to a student’s account during a calendar year, less any amounts
by which tuition was reduced due to a reduction in course load or withdrawal. Decreases
in amounts due on a student’s account due to scholarship payments, student payments
or other payments are not included in the Box 2 amount.
Box 3: This box will be left blank, since The University of Louisiana at Monroe has not
changed its current method of reporting from the previous year.
Box 4: Adjustments made for a prior year: The amount in this box should be the sum of all reductions in tuition (refunded
or not) related to amounts billed in a prior year. This amount is reported as a positive
number per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 5: Scholarships or grants: This box contains the sum of all scholarships the University of Louisiana at Monroe
administered and processed for the student’s account during the calendar year. Scholarships
that pay for tuition (qualified scholarships) as well as for housing, books, 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 accounts for
educational expenses are included in this box.
Box 6: Adjustments to scholarships or grants for a prior year: Decreases or refunds of scholarship amounts related to scholarships reported in
a previous year are included in this box. This amount is reported as a positive number
per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 7: Shows whether or not the amount in Box 2 includes amounts for an academic period
beginning January-March of the following year printed on the face of the form. See
Pub. 970 for how to report these amounts.
Box 8: A check in this box indicates that you are or have been enrolled at the University
of University of Louisiana Monroe at least half-time 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: Shows the total amount of reimbursements or refunds of qualified tuition and related
expenses made by an insurer.
Controller's Office