Form 1098T

Why did I receive a 1098T?

Educational institutions are required by law to report to students the amount of qualified tuition and fees that have been billed to the student during the calendar year (January 1 – December 31) for the purpose of determining a student's eligibility for education tax credits. This information is reported on the Form 1098T.

What is reported on a 1098T?
Box 2 includes eligible tuition and fee (as defined by the IRS) that were posted (billed) to your student account during the calendar year.

The IRS defines this as "tuition and fees required for the student's enrollment or attendance at an eligible educational institution." Please note that room and board expenses are not included in this amount.

Box 4 includes adjustments to charges on a prior year's 1098T that occurred in this tax year.

Box 5 includes any scholarships or grants that were applied to your student account during the calendar year. This generally includes all payments received from 3rd parties (excluding family members and loan proceeds).

Box 6 includes any reduction to the amount of scholarships or grants that were reported for any prior year.

Box 8 is checked if you were at least a half-time student during any academic period during the calendar year.

Why is Box 1 blank?
CMU like many other universities, does not use Box 1. Instead we use Box 2 to report qualified tuition and fees.

How do I find out how much I made in payments for the calendar year?
Review the Statement of Account Activity for the Calendar Year that is included along with the 1098T form.

How do I use the 1098T for tax purposes?
You should contact your tax professional or the IRS if you have questions concerning the use of this form for your taxes. CMU cannot provide tax advice.

When will I receive my 1098T?
1098T forms are mailed in late January, no later than January 31st for the previous calendar year. You may also access your 1098T information under the "Student" tab on your myCMU account during this time.

How can I access my 1098T online?
Log into your myCMU account -> Select the "Student" tab along the top -> Select "1098 Information" on the left side of the page -> Select "Go to My 1098-T Info" in the middle of the page -> Select the year you wish to access information for -> "Select View/Print Statement" (this will allow you to print a copy of your Form 1098T).

You will also need to print a statement of account to provide along with the Form 1098T to your tax preparer. To access this select "1098 Statement of Account" on the left side of the page, then select "Account Activity for Calendar Year XXXX".

Note: While you can print a 1098T for multiple previous years, the only option for "Account Activity for Calendar Year" is the previous calendar year. You will need to contact the Business Office directly if you need a statement of account for years beyond the previous calendar year.

Where can I obtain additional information about this form and education tax credits?
The IRS website provides information about this form. Publication 970, Tax Benefits for Education can also be obtained on that web site. The IRS website also provides information about who can claim an education credit.

 

Important Note: A 1098T in no way suggests that you are eligible for a tax credit. 1098T's are for informational purposes only. Please speak with a tax professional or consult the IRS website for more information about whether or not you qualify for a credit.