|1098T Information and Request Form|
1098-T Tuition Statement
Explanation of Your IRS Form 1098-T Tuition Statement
The IRS Form 1098T is an infomation form filed with the Internal Revenue Service.
The IRS Form 1098T that you received reports amounts billed to you for qualified tuition and expenses. You or the person who may claim you as a dependent, may be able to take either the tuition and fees deduction or claim an education credit on Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid during the calendar year. There is no IRS requirement that you must claim the fuition and fees deduction or an education credit. Claiming an education tax benefit is a voluntary decision for those who may qualify.
Box 2 of Form 1098-T - Amounts Billed for Qualified Tuition and Related Expenses Reports the qualified tuition and related expenses billed to you during the calendar year. Manhattanville College has chosen to report qualified tuition and related expenses billed during the calendar year, rather than the amount that was paid. The amount shown in Box 2 for qualified tuition and related expenses billed during the calendaryear may represent an amount that is different from the amount actually paid during the calendar year, although for some students the amounts will be the same. Under section 25A of the Internal Revenue Code and the associated regulations, a taxpayer may take a tuition and fee deduction or claim an education tax credit only with respect to qualified tuition and related expenses actually paid during the calendar year.
Box 4 of Form 1098-T - Adjustments Made For a Prior Year Reports adjustments made to qualified tuition and related expenses reported on a prior year Form 1098-T in Box 2. The amount reported in Box 4 represents a reduction in tuition billed during a prior calendar year. For example, if you were billed for Spring semester classes in December and withdrew from classes in January, Box 3 reports the decrease in billed tuition due to the withdrawal. 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 IRS Form 8863 or IRS Publication 970 for more information.
Box 5 of Form 1098-T - Scholarships or Grants Reports the total amount of scholarships or grants administered and processed by Manhattanville College Financial Aid Office or Bursar’s Office during the calendar year.
Box 6 of Form 1098-T- Adjustments to Scholarships or Grants For a Prior Year Reports adjustments made to scholarships or grants reported on a prior year. Form 1098-T in Box 4. The amountreported in Box 6 for adjustments to scholarships or grants may affect the amount of any allowable tuition and fees deduction or education credit you may claim for the prior year. See IRS From 8863 for how to report these amounts.
Box 7 of Form 1098-T, if checked, shows whether the amount in Box 2 includes amounts billed for an academic semester/quarter beginning January – March of the next calendar year. For example, if you egistered for the upcoming Spring semester during November or December, this box will be marked.
Box 8 of Form 1098-T, shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study for at least one academic period during the calendar year.
Box 9 of Form 1098-T, shows whether you are considered a graduate student.
Attaching Form 1098-T to Your Tax Return
You are not required to attach IRS Form 1098-T to your tax return. The primary purpose of the IRS Form 1098-T is to let you know that Manhattanville College has provided required information to the IRS to assist them in determining who may be eligible to claim the tuition and fee deduction or an education credit.
Questions regarding IRS Form 1098-T
Please contact the IRS or your tax consultant for further information. IRS Publication 970 on Tax Benefits for Higher Education provides additional information on education credits and deductions. Please refer to the IRS websites below for more information:
Summary: 2011 1098T will include:
Tuition charges for Spring 2011 registration took place in during Nov. and Dec. of 2010 for most students it would have been on your 2010 1098T. It will be on your 2011 1098T only if you registered for after 12/31/10.
Financial Aid for Spring 2011 would be on your 2011 1098T, it is not applied until after the start of the term which was in January, 2011.
Tuition for Spring 12 – registration took place in during Nov. and Dec. of 2011 for most students. If you register after Jan. 1, 2012 the tuition will show up on your 2012 1098T.
Financial Aid for Spring 2012 will be on your 2012 1098T because it will be applied after Jan 1, 2012.
Fall, Winter and Summer tuition and financial aid are always applied to the year they were taken.
REQUEST FOR DUPLICATE 1098T
Delivery options for your duplicate 1098-T:
______1. Pick up – Manhattanville College Student Accounts Office. Student ID is required to pick forms up in person.
______2. U.S. Mail – Your duplicate(s) 1098-T will be mailed to the address you provide below.
______3. PDF via Email – Your duplicate (s) 1098-T will be emailed to the address you provide below.
Email is not a secure method of delivery. Your signature below indicates your consent.
Student Id Number____________________________________
Fax Number_____________________ Email Address________________________
Student Signature_________________________ Date______________________