1098-T Frequently Asked Questions


When can I retrieve my 1098-T form on POUNCE?

Tax year 2016 1098‐T electronic forms will be available on POUNCE in the billing center no later than January 31, 2017.  There is a link to the Paper Form process from POUNCE.  Students who were enrolled prior to fall of 2016 and would like to review or print their prior year 1098-T form may do so from POUNCE as well.

What is the 1098T Authorization?

An agreement to authorize the institution  to  provide  your supplemental  tax  information  to  you  electronically  via POUNCE.   This is the same information that you would receive on paper. Online availability provides zero wait time, increased security, and the option to print the form multiple times, anytime.  The electronic form is delivered in the same format as the paper forms.

To what tax years does this consent apply?

Your  1098‐T  authorization  will  apply  to  the  current  tax  year  and  every  year  following  the  date of  consent  that  applicable  data  is  available.  The tax year is inclusive of all payments to qualified charges that occurred between January 1 and December 31.

I  have  authorized  the institution  to  provide  my  1098‐T  electronically.   Can I obtain a mailed paper form also?

Yes. Instructions for receiving a paper copy are available below and on POUNCE:

Students who wish to receive a paper 1098-T statement in addition to the electronic version must submit a formal, notarized request to the Business Office. To withdraw consent to receive this form electronically, a separate formal notarized request must also be sent to the Business Office. More information regarding this can be found on the Business Office website in the 1098-T FAQ.

 

Do I need to file this 1098T form on my income taxes?

Please defer this question to your tax preparer.  Generally, 1098-T forms are supplemental, and thus, not a required document.  The Business Office will not provide tax filing information to students as we are not certified tax preparers.

How can I determine which fees are qualified for the 1098-T form?           

IRS regulations state:  “Qualified  tuition  and  related  expenses  are  tuition  and  fees  a  student  must  pay  to  be  enrolled  at  or  attend  an  eligible  educational  institution.”

The IRS guidelines specifically include tuition and fees that were billed to students during the applicable calendar year.  Fees for personal, living or family expenses are not considered a qualified fee and are not reported.  This excludes fees for room and board, insurance, transportation (parking), and medical expenses (student health fees).  This is true even if the charge must be paid to the institution as a condition of enrollment or attendance.

I paid tuition and fees this year, but did not receive a 1098-T form.  Why?

1098-T data is reported based on the dates tuition and fees were billed to your account.  The IRS requires tax information to be reported based on the calendar year including January 1-December 31.  If you registered for the next spring term during the prior calendar year, the charges were likely reported on the prior calendar year tax form.  These charges are therefore reported in the tax year in which November falls.

I have graduated.  How will I receive my 1098T form?

Graduates have access to POUNCE for 1 year after their graduation date.

I have withdrawn. How will I receive my 1098T form?

Your tax form will be mailed to your permanent address. 

Why was I emailed to supply my SSN or TIN?

The IRS has a requirement for 2016 reporting that any students who receive a 1098-T supplemental tax form must have a valid SSN or TIN on file, or be required to respond that they do not have a SSN or TIN.  If the institution identifies records missing the SSN or TIN, the institution must send notice to the individual to collect this information via form W-9S.  If your record is found to have an invalid or missing SSN, you will be required to remit proof of the valid SSN or TIN. IRS W-9 Form Information