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502-7-1098-T

Title: 1098-T
Owner: Student Accounts
Last Update/Revised: 05/01/2024

Policy: United States University (USU) provides the 1098-T form each year to eligible students who have paid qualified tuition and related expenses. The 1098-T form can assist the student with filing for education tax credits, however, it does not guarantee eligibility of an educational tax credit. Detailed information about claiming education tax credits and eligibility criteria can be found in IRS Publication 970.

Information Provided

The IRS requires all colleges and universities to report payments for qualified tuition and related expenses received. Qualified tuition and related expenses are defined as tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Students’ fees and expenses for course-relate books, supplies, and equipment are included in qualified related expenses only if the fees and expenses must be paid to USU as a condition of enrollment or attendance.

Unqualified expenses include health insurance, transportation, housing, or other similar personal living, or family expenses.

Purpose: The purpose of this policy is to outline the requirements for United States University to provide the 1098-T to students and to the IRS.

Procedure:

  1. Student Accounts will send notices to student the first week of October and third week of December to all students who made a payment to the school in the current calendar year. Students will receive an email notice to opt-in to receive their 1098-T electronically.  Students will be asked to review their demographic information, including their Social Security Number (SSN), and make updates as needed.
    1. Should a student need to make changes to their demographic information, they may log into the student portal and make the necessary changes.
    2. If a SSN must be corrected, a student must contact the Registrar's Office. Please refer to the Change of Student Demographic Information; A W-9 Form must also be completed and provided to the Student Accounting department. 
  2. The Student Accounting Department begins its process after month end for December. Refer to the 1098-T Policy and Procedures linked below.

Scope: This policy applies to all eligible students who are enrolled in an eligible degree program.

Documents and Forms:

  1. W-9s Form
  2. W-9s Client Guide
  3. 1098T Master File - The folder is only accessible by the VP of Student Accounting and is the primary owner.
  4. 1098-T Policy and Procedures
  5. TaxSelect SSN Validation Import File Requirements
  6. Student Electronic Opt-In Email Template
  7. Managing your 1098Ts
  8. EasyPath Instructions
  9. 1098-T Statement Data File Requirements
  10. 1098-Ts FAQs
  11. IRS 1098-T Instructions
  12. IRS 1098-T Form