In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Due to a change in federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year.
So, what does that mean for you?
This means that you will no longer see any amounts in Box 2 (Amounts billed for qualified tuition and related expenses) on your 1098-T form. You will, however, see an amount in Box 1 (Payments received for qualified tuition and related expenses).
Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit. For more detailed information about claiming education tax credits please visit https://www.irs.gov/individuals/students.
The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return.
Below is a blank sample of the 2018 Form 1098-T, that you will receive in January 2019, for your general reference. For more information about Form 1098-T, visit the IRS website
Bridgewater State University is unable to provide you with individual tax advice. If you have tax questions, you should seek the counsel of an informed tax preparer or adviser.
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