UPDATE: Jan. 18 , 202 2 – Student Financial Services received notice from our third-party provider (ECSI) that electronic 1098Ts for the 2021 tax year will be released this week. Students should visit the ECSI website https://heartland.ecsi.net/ for any questions related to their 1098-T statement and to access an electronic copy of their 1098-T statement on the ECSI portal. Students that have not consented to receive their 1098-T electronically will have a paper 1098-T statement mailed to them by Jan. 31.
To access their 1098-T statement online, students will need their:
- First and Last Name
- Social Security Number
- Zip Code that appears on their 1098-T form
About the Form 1098-T
Susquehanna University is required to report qualified tuition and related expenses, such as tuition, fees and course materials necessary for enrollment.
The dollar amounts reported on your Form 1098-T may assist you in completing Internal Revenue Service (IRS) Form 8863 — the form used for calculating the education tax credits you may claim as part of your tax return. Depending on income, enrollment status and the amount of qualified educational expenses, you may be eligible for a federal education tax credit.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) SU billed to your student account for the calendar (tax) year. Congress and the IRS eliminated the option for colleges to report the “amounts billed in Box 2.” We must now report the “amounts paid” for qualified tuition and related expenses. Beginning with tax year 2018, SU reports in Box 1 the amount of QTRE you paid during the year.
Frequently Asked Questions (FAQs)
1. When will I receive my Form 1098-T?
Susquehanna releases 1098-T forms by Jan. 31 as federally required. Students with Electronic Consent have consented to receive their 1098-T electronically and will receive an email notification (unless otherwise agreed upon) within 24 - 48 hours. Students without Electronic Consent have not consented to receive their 1098-T electronically and will have a paper 1098-T statement mailed to them by Jan. 31.
2. What are Qualified Tuition and Related Expenses (QTRE) paid?
The IRS defines educational expenses that are considered QTRE for purposes of claiming a tax credit or deduction. The amount of QTRE paid on the student account includes payments from any source, such as:
- Cash, check, electronic or wire transfer payments
- Federal or private educational loans posted to the student account
- Scholarships or grants from any source posted to the account, unless the award was specifically intended to pay a non-qualified charge
- 529 and College Savings plan payments
3. Why didn’t I receive a 1098-T?
- The amount of QTRE paid during the tax year from Jan. 1 to Dec. 31 was zero. For example, you were enrolled for the spring term that began in January 2021, but you paid your tuition and fees in late 2020.
- You paid your tuition and fees during the calendar year but dropped all your classes during the same calendar year. All your charges were reversed and your money was returned to you.
4. What information is reported on the Form 1098-T?
- Box 1 — As required by the IRS, SU reports payments received for qualified tuition and related expenses (less any reimbursements or refunds) for the tax year ending Dec. 31.
- Box 2 — Intentionally left blank and reserved for future use.
- Box 3 — Intentionally left blank and reserved for future use.
- Box 4 — Shows any adjustment (payments received or amounts billed) made for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit that you claimed in the prior year. Please consult your tax advisor accordingly to determine any impact to prior years.
- Box 5 — Shows the total of all scholarships or grants administered and processed by SU for the payment of the student’s cost of attendance. Scholarships and grants generally include all payments received from third parties (excluding family members and loan proceeds). This includes payments received from the governmental and private entities such as the Department of Veterans Affairs, the Department of Defense, civic and religious organizations, and nonprofit entities. The amount of scholarships or grants for the calendar year may reduce the amount of the education credit you claim for the year.
- Box 6 — Shows adjustments to scholarships or grants for a prior year.
- Box 7 — Shows whether the amount in box 1 includes amounts for an academic period beginning January-March of the subsequent year.
- Box 8 — Shows whether you are carrying at least one-half the normal full-time workload for your course of study at the reporting institution.
- Box 9 — Shows whether you are enrolled in a program leading to a graduate degree, graduate-level certificate or other recognized graduate-level educational credential.
- Box 10 — Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer.
5. Why is my post 9/11 GI Bill reported in Box 5 of the 1098-T?
Veteran’s educational benefits are not taxable. However, they can be reported as a grant on Box 5 of the Form 1098-T. Reporting veteran benefits on the Form 1098-T does not indicate that such benefits are taxable. Instead, it only indicates that the individual’s qualified educational expenses used for purposes of determining the tax credit must be reduced.
6. How can I obtain a copy of my 1098-T?
1098-T forms will be sent via the United States Postal Service to students and former students home address on file with our Registrar’s office. If additional copies are needed, please email email@example.com.
7. Where can I obtain assistance with questions regarding my tax filing?
We encourage you to speak with an informed tax preparer or adviser regarding tax advice.