Frequently Asked Questions About the 1098-T
What is the IRS Form 1098-T?
The Form 1098-T is a statement that colleges and universities are required to issue to certain students. It provides the total dollar amount paid by the student for what is referred to as qualified tuition and related expenses (or “QTRE”) in a single tax year.
When will I receive my Form 1098-T?
Your Form 1098-T will be available to you electronically on or before January 31 via your student account in Workday.
Why don’t the numbers on Form 1098-T equal the amounts I paid to WPI during the year?
There are potentially many reasons for this discrepancy. First, the amount in Box 1 only represents amounts paid for qualified tuition and related expenses (QTRE) and does not include payments made for room and board, insurance, or health service fees, though important, are not considered mandatory education expenses for tax purposes. Secondly, Form 1098-T reports amounts that the student paid in a certain year, and the pay date does not necessarily correspond to the dates that the classes were attended. For example, tuition for the Spring semester is typically billed in the prior year so a student may have paid tuition for the Spring semester in December even though classes don’t start until January. The best and most accurate source of information about the amounts that you paid for qualified tuition and related expenses will be in your student account in Workday.
Does the 1098-T include charges for books?
No, the University does not include amounts paid for books in Form 1098-T. You should consult with your tax advisor to determine if payments for books, equipment or fees should be considered when preparing your income tax returns and determining eligibility for education tax credits or deductions.
What semesters are included in my Form 1098-T?
Typically, charges are posted to your student account in December for the Spring semester and in June for the Fall semester. Box 1 of Form 1098-T reflects payments made during the calendar year for qualified tuition and related expenses and it is not based on when the classes were attended or posted to the student account. Your student account will show the dates payments were posted and are a valuable resource for determining the semesters that are included in your Form 1098-T. You can access your student account via Workday.
How do I prepare my tax returns without a Form 1098-T?
Form 1098-T reports payments received from the student for qualified tuition and related expenses (Box 1) during the preceding calendar year. However, if the student receives scholarships, grants and/or fellowships in the preceding year in excess of the amounts they paid in QTRE, the University is not required to issue a Form 1098-T to the student. When determining your eligibility for education related tax credits and deductions, you will need to report the amount you paid for qualified education and related expenses. Therefore, your student account in Workday will be the best and most accurate source of information for amounts paid for qualified education and related expenses. This is true regardless of whether you receive a Form 1098-T or not.
Adjustments Made for a Prior Year
BOX 4 of IRS Form 1098-T reports adjustments made to qualified tuition and related expenses calculated in a prior year. The amount reported in Box 4 represents a reduction in tuition billed during a prior calendar year. For example if you were billed in Nov-Dec 2021 and later had a reduction in the QTRE charges in 2022 (ie withdrawal, courses dropped), Box 4 reports the decrease in billed tuition due to the withdrawal or drop. The amount reported in BOX 4 reports the decrease in QTRE from the withdrawal or drop of courses that reduced the QTRE. The amount reported in Box 4 for adjustments to qualified tuition and related expenses may reduce any allowable education credit you may claim for the prior year. See your tax advisor and/or IRS Form 8863/IRS Publication 970 for more information.
Note: It is possible for the other boxes to be empty and only have a number in BOX 4. This means as stated above that there was a reduction in qualified tuition and related expenses calculated on the 2021 1098-T that was reduced after December 31, 2021 but had no other reportable activity for the 2021 calendar year. Please consult a tax advisor and/or IRS Form 8863 and IRS Publication 970 for assistance.
Why is Box 9 checked that I am a graduate student when I am an undergraduate?
BOX 9 Check if a Graduate Student of IRS Form 1098-T reports if the student is a graduate student. The IRS defines a 'graduate student' as a student enrolled in a program or programs leading to a graduate-level degree, graduate-level certificate, or other recognized graduate-level educational credit. Please check your academic record. Your tax preparer can tell you how taking graduate level courses affects any state level tax credits, for example, see Massachusetts Education-Related Tax Directions.
My accountant says that the University must provide me with a form 1098-T so why didn't I receive one?
The University is not required, by the IRS, to furnish a Form 1098-T in the following instances:
- If payments are for courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.
- If the enrolled student is a nonresident alien, unless requested by the student.
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with grants/scholarships.
- Students for whom you do not maintain a separate financial account and whose qualified tuition and related expenses are covered by a formal billing arrangement between an institution and the student's employer or a governmental entity, such as the Department of Veterans Affairs or the Department of Defense.
My SSN is wrong on my Form 1098-T. Can I have a new one sent to me?
If your SSN is incorrect, please change it by logging into Workday.
- In the search section type in “my id” and hit enter
- Select Change My Government IDs
- Click the plus sign under National IDs
- Enter United States
- Select SSN or ITIN
- Enter the nine-digit number
- You do not need to enter any dates
Then email email@example.com and request a corrected Form 1098-T.
I don’t understand what I’m supposed to do with this Form 1098-T. HELP!
We are unable to provide tax advice but here's some FAQs from the IRS that you may find helpful. For guidance you may want to consider IRS Publication 970 in addition to the IRS’s guide to Choosing a Tax Professional.