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1098-T Tax Forms

The 1098-T tax form includes information that colleges and universities are required to issue for the purpose of determining a student's eligibility to receive the American Opportunity Credit, Lifetime Learning education tax credits, or other education credits on form 1040 or 1040A.

St. Norbert College reports this information directly to the IRS; therefore the 1098-T is for your information only and does not need to be attached to your tax return.

As each student's tax liability is subject to various personal factors, student and parents are encouraged to seek additional information directly from the IRS or their personal tax adviser. St. Norbert College cannot provide tax related advise or recommendations.

Eligible students will receive an email notification in January when their 1098-T Tax Information is available in KnightLine.  Parents or individuals with Proxy authorization to the students 1098-T Tax Information will also receive an email notification.

If you feel it is necessary to have a paper form mailed you must complete the Opt Out Form and return it to the Bursar Office in TWH 128 or email it to bursar@snc.edu.  Please note that the 1098-T tax form will not be faxed, emailed or handed out in the office.

Frequently Asked Questions

What is a 1098-T Tax Form?

The 1098-T form is a Tuition Payment Statement that includes information that colleges and universities are required to issue for the purpose of determining a student's eligibility to receive the American Opportunity Credit, Lifetime Learning Credit, or other education credits on form 1040 or 1040A. More information can be found at http://www.irs.gov/individuals/students.

How will I receive my 1098-T Tax Form?

We will notify students and any authorized proxy by email when the 1098-T tax information is available on KnightLine. The 1098-T tax information can then be accessed in KnightLine to view and/or print off. If you feel it is necessary to have a paper form mailed to you, it is required that you complete the Opt Out Form and return it to the Bursar Office no later than December 31st of the tax year. If you choose to opt out of the electronic copy, then you will not receive the email notification. An Opt Out Form will be required for every tax year for a paper 1098-T Tax Form to be mailed. 

Note, you don't need a copy of the form to be filed with your tax return. We transmit the same information electronically to the IRS.

Why did I receive a 1098-T Tax Form?

Educational institutions are required by law to report to students payments received for qualified expenses during the calendar year. In Tax year 2017 and prior, St. Norbert College reported the qualified expenses billed during the calendar year.

Effective Tax year 2018 payments received, up to the qualified expenses billed during the calendar year, is now being reported and recorded on this form.

Why is there an amount in Box 1 and Box 2 is blank for 2018?

Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, St. Norbert College will report in Box 1 the amount of payments received, up to the qualified tuition and related expenses paid during the calendar (tax year).

Why doesn't Box 1 reflect the total amount I paid to the college for that tax year? 

Box 1 is the amount paid toward qualified expenses (see Box 1 details and explanation under ‘What information can be found on the 1098-T tax form?’  below). As determined by the federal government, qualified expenses are defined as expenses required by and paid to the institution for enrollment purposes. They include tuition and required fees billed to all students.

Nonqualified expenses are defined as books, room and board, parking, athletics, music and other similar personal living expenses.

As a result, the amount of qualified expenses will likely be less than the total amount of money paid.

How can I find out if I am eligible for a tax benefit?

Check the IRS website, contact the IRS, or contact a tax advisor. Employees of the college cannot provide tax advice.

What information can be found on the 1098-T Tax Form?

Box 1—The total payments from any source received by an eligible educational institution in 2018 for qualified tuition and related expenses less any reimbursements or refunds made during 2018 that relate to payments received during 2018. Please note the amount in Box 1 will NOT equal to or sum to the charges paid for calendar year 2018 because all charges are not considered qualified tuition and related expenses as defined by the Internal Revenue Service.

Note: If you registered for and paid for Spring 2018 classes in 2017, those payments will not be included on the 2018 1098-T.  Also, if you register and pay for Spring 2019 classes in 2018, those payments will be included on the 2018 1098-T.

Box 2—Reserved

Box 3—Shows whether St. Norbert College changed its method of reporting for 2018. This box will be checked for 2018.

Box 4—It is the amount of any adjustments 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 you may claim for the prior year. See Form 8863 or the IRS Pub 970 for more information. This box will be blank for 2018 as 2018 is the first year that St. Norbert College has reported payments.

Box 5—Includes the total of all scholarships, grants, and third party payments received in 2018. Spring 2019 scholarships or grants paid in 2018 will appear in Box 5.

Box 6—The amount of any adjustments made for prior year scholarships or grants that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit you can claim for the prior year.

Box 7—Will be checked if the amount in Box 2 includes amounts for an academic period beginning January–March 2019. See the IRS Pub 970 for how to report these amounts if this box is checked.

Box 8—Indicates whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at St. Norbert College.

Box 9—Indicates whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential.

Box 10—Will always be blank on any 1098-T form you receive from St Norbert College.

 

How do I use the 1098-T Tax Form for tax purposes?

St. Norbert College encourages you to contact a tax professional regarding the application of this form to your taxes.  For the IRS 1098-T form definition click here. The IRS web site (www.irs.gov) also provides information about this form. Publication 970, Tax Benefits for Education can be obtained on that web site or by calling the IRS at 1.800.829.1040. Employees of the college cannot provide tax advice.

How do I know if I should have received a 1098-T Tax Form?

1098-T Tax Forms are only processed for students whose qualified tuition and qualified fees do not exceed the awarded scholarships and grants.

1098-T Tax Forms will not be generated if:

  1. Scholarships/grants exceed qualified tuition and fee charges
  2. Qualifying tuition and fees were covered by a formal billing arrangement with another institution, your employer or a governmental entity
  3. You have a residency status that categorizes you as a nonresident or foreign student

When will I receive my 1098-T Tax Form?

We are required to have 1098-T tax information available by January 31st. We will notify students and proxies by email when the information is available to view on KnightLine.

How can I obtain a copy of my 1098-T Tax Form?

Your 1098-T Tax Form is available on the student’s KnightLine account.

     Students:

  1. Log into KnightLine Account
  2. Select “Bursar” tab
  3. Select “Tax Notification-1098T” and enter Tax Year

     Proxy:

  1. Log into KnightLine Proxy Access
  2. Select tab with student’s name
  3.  Select “Bursar: Tax Notification -1098T” and enter Tax Year 

Where can I find the detail of all the payments and tuition charges for the tax year?

     Students:

  1. Log into KnightLine Account
  2. Select “Bursar” tab
  3. Select “Account History by Date”

     Proxy:

  1. Log into KnightLine Proxy Access
  2. Select tab with student’s name
  3.  Select “Bursar: Account History by Date”

How may I receive information on my spouse's or child's 1098-T Tax Form?

This information is part of the student's private educational records which are protected The Family Educational Rights and Privacy Act (FERPA). We are unable to disclose information to anyone without written consent by the student. If a student wishes to release this information to you or other individuals, they will need to grant access via KnightLine proxy access, or print and forward a copy to the person requesting it.

 

 

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