1098-T FAQ

FAQ’s

1098-T FAQs (FREQUENTLY ASKED QUESTION)

·         What is a 1098-T form?

·         Why did I receive a 1098-T tax form and what am I supposed to do with it?

·         Did you send a copy to the IRS?

·         What is Siena’s Federal ID number?

·         How can I access this information and a statement of my student account electronically?

·         What educational expenses are considered as qualified tuition and related expenses?

·         What information is reported on form 1098-T Prior to 2018?

·         What information is reported on form 1098-T starting in 2018?

·         The Social Security Number (SSN) on my form is missing or incorrect. What should I do?

·         The name and/or address on my form are incorrect.  What should I do?

·         Where can I find out more about educational tax credits and deductions?

·         1098-T or TL11-A Enrollment Certification forms for International Students?

What is a 1098-T form?

The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997.  Eligible educational institutions are required to submit the student’s name, address, and taxpayer’s identification number (TIN), enrollment and academic status.  Beginning with 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not.  A 1098-T form must also be provided to each applicable student.  This form is informational only.  It serves to alert students that they may be eligible for federal income tax education credits. It should not be considered as tax opinion or advice.  While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit.  There is no IRS requirement that you must claim the tuition and fees deduction or an education credit.  Claiming education tax benefits is a voluntary decision for those who may qualify.

Why did I receive a 1098-T tax form and what am I supposed to do with it?

By January 31 of each year, Siena Heights University mails an IRS Form 1098-T to all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year.  This form is informational only and should not be considered as tax opinion or advice.  It serves to alert students that they may be eligible for federal income tax education credits.  Receipt of Form 1098-T does not indicate eligibility for the tax credit.  To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records.

NOTE:  It is up to each taxpayer to determine eligibility for the credits and how to calculate them.

Did you send a copy to the IRS?

Yes.  Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file information returns to assist taxpayers and the Internal Revenue Service in determining eligibility for the American Opportunity and Lifetime Learning education tax credits.  Forms are mailed at the end of January of each year for the previous tax year.

Note:  Claiming education benefits is a voluntary decision for those who may qualify.

What is Siena’s Federal ID number?

38-1366958

How can I access this information and a statement of my student account electronically?

Your student account activity and all reported information on form 1098-T is available through your secured “My Siena” portal and can be accessed by following the steps below:

Step 1:   Go to www.sienaheights.edu

Step 2:  Click on the “My Siena” link located at the top of the page.

Step 3:   Log into “My Siena” using your “User Name” and “Password”.   

If you need help resetting your password, please contact Computing Services & Systems Helpdesk at (517) 264-7655.

Step 4:   On the lower right hand side of your “Home” page you will find “Paying For College”.

Click on “My 1098-T Info” for form reporting information. 

Click on “My Account History and Course and Fee Statement” then “My Account History” to access student account activity which includes charges and posted financial aid.  To view and print detailed history for the 2018 year click on the most recent semester account balance due link.  This screen can be printed to provide to your tax professional or for your personal IRS records, as needed.

What educational expenses are considered as qualified tuition and related expenses?

Qualified Tuition and Related ExpensesUnqualified Expenses
·         Graduate and Undergraduate Tuition·         Compliance fees·         Course fees·         Technology fees·         eCollege fees·         Activities fees·         Room and board fees·         Books·         Deferred payment fees·         Insurance

What information is reported on form 1098-T prior to 2018

Why isn’t there an amount in Box 1?

 Prior to 2018 the IRS instructed institutions to report either payments received (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T.  Once an institution has selected one of these options, they cannot change reporting methods between calendar years without IRS permission.  SHU only reported qualified tuition and related expenses that were billed during the tax year (Box 2) and scholarships and grants.  Prior to 2018, Box 1 – Payments Received for Qualified Tuition and Related Expenses, will be blank.

 Information in Box 2 “Amounts billed for qualified tuition and related expenses”:

 This represents the amounts billed prior to the 2018 calendar year for qualified tuition and related expenses.  The amount reported is the total amount billed less any reductions in charges made during the calendar year that relate to the amounts billed.

* See information below for additional descriptions 

What information is reported on form 1098-T starting in 2018?

Box 1,  “Payments received for qualified tuition and related expenses”: 

          Shows the total payments received by an eligible educational institution in 2020 from any source for qualified tuition and related expenses less any reimbursements or refunds made during 2020 that relate to those payments received during 2020.

Box 2, “Reserved”

Box 3, “Check if you have changed your reporting method for 2018″

                This box should be checked for the year 2018

Box 4, “Adjustments made for a prior year”:

This represents any reduction in charges made for qualified tuition and related expenses processed during the calendar year that relate to amounts billed that were reported for a prior year.

Box 5, “Scholarships or grants”:

This includes all SHU aid, scholarships, gifts, federal and state grants or scholarships, employer tuition payments, but not loans.

Box 6, “Adjustments to scholarships or grants for a prior year”:

This represents any reduction to the amount of scholarships or grants that were reported for prior year.

Box 8, “Checked if at least half-time student”:

If checked, indicates that you were considered to be “enrolled at least half-time” for one or more semesters during the tax year.  At SHU, “at least half-time” means that you were enrolled in 6 or more semester hours for any semester.

See IRS Publication 970, “Tax Benefits for Education” for more information.

Box 9, “Checked if a graduate student”:

If checked, indicates that you were enrolled in a graduate program for one or more semesters during the tax year.  The University checks this box if you attended as a graduate student for any semester of your enrollment during the tax year. 

See IRS Publication 970, “Tax Benefits for Education” for more information.     

The Social Security Number (SSN) on my form is missing or incorrect. What should I do?

Reporting to the IRS depends primarily on your SSN, so it is very important for you to have the correct information on file with the University.    To correct or report your SSN please contact the Registrar’s Office by calling 517-264-7120 or emailing them at Regr@sienaheights.edu.   The signed copy of your SSN card may be required.

The annual deadline for SHU to file 1098-T tax information electronically with the IRS is March 31, although data may be transmitted earlier as circumstances allow.  Please make sure any corrections are completed before mid-March to promote accurate filing.

The name and/or address on my form are incorrect.  What should I do?

Your name is a key element of your tax information, so be sure to submit changes to the University as soon as possible.   Name changes need to be made with the Registrar’s Office.  Documentation of name change will be required.  Please contact the Registrar’s Office by calling 517-264-7120 or emailing them at Regr@sienaheights.edu

                Address changes can be made through the Registrar’s Office or through any Degree Completion Center.    You can also change your address by following the steps below:

Step 1:   Go to www.sienaheights.edu

Step 2:  Click on the “My Siena” link located at the top of the page

Step 3:   Log into “My Siena” using your “User Name” and “Password”  

If you need help resetting your password, please contact Computing Services & Systems Helpdesk at (517) 264-7655.

Step 4:   Click on “Personal Info” found at the top left of page

Step 5:   Click on “Biographical Info”

Step 6:   Click on   located next to “Name and Address”

Where can I find out more about educational tax credits and deductions?

Siena Heights University cannot determine if you qualify for a tax credit and is not allowed to give you tax advice.  Please read the instructions on the 1098-T statement and obtain IRS Publication 970 and Form 8863 https://www.irs.gov/pub/irs-pdf/i8863.pdf or contact a tax professional about your personal income tax situation.  The IRS website for the above form and publication is www.irs.gov or by calling the IRS at 1-800-829-1040.

1098-T forms or TL11-A Enrollment Certification for International Students:

1098-T forms will be produced for international students as requested.  Presentation of a valid social security card or tax identification card is required for this purpose.  TL11-A forms for Canadian students are available upon request.  Please contact the Office of Student Accounts at 517-264-7110 or studentaccounts@sienaheights.edu for more information.