Education Tax Credits - 1098-T

Tuition Statement 1098T

PLEASE NOTE:  A student has access to their 2021 1098T information by logging onto their Dickinson Gateway, click on the SSB icon and follow the instructions below:

a.  Access Banner Self-Service
b.  Click on the Student Tab
c.  Click on the Student Accounts link
d.  Select Tax Year (2021) then click SUBMIT
e.  The Tax Notification for 2021 should be visible

The IRS tax form the parent/guardian uses to file the Education Credits (American Opportunity and Lifetime Learning Credits) is tax form 8863.  Log onto this website:  http://www.irs.gov/formspubs/index.html?portlet=103M  or access www.IRS.gov and search for the tax form and instructions.

The College sends IRS Form 1098-T tuition statement to the student's permanent home address prior to January 31 of each year. This statement reflects the Box 1 amount payments or adjustments up to the cost of the applicable tuition and related fees (not room and board) to the student for the tax/calendar year.  Box 5 reflects the amount of any scholarship/grant awarded or adjusted to the student for that same tax year. 

The IRS also requires Dickinson College to obtain the student's taxpayer identification number (social security number - SSN or individual taxpayer identification number - ITIN) to file the 1098-T form.  If your student is notified by the Student Accounts Office to complete the IRS form W9-S, please access the IRS website listed above and download the form W9-S or scroll down to review the W9-S information and to complete the form and upload through the secure portal.  Complete PART 1 of the form and sign the form to serve as verification.  If you choose a paper copy, please return the completed form to the Student Accounts Office, PO Box 1773 Carlisle, PA 17013-2896; by fax to 717-245-1850; or email to Student Accounts.  

 

IRS Notification to changing the reporting on the Tuition Statement 1098T

December 2018

Dear Dickinson Students and Families,

In previous years, the student's 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) Dickinson College billed to your student for the prior calendar year.  Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, Dickinson College is required to report in Box 1 the amount of QTRE you paid during the prior calendar year.  This means you will no longer see an amount in Box 2, but rather see an amount in Box 1 (Payments received for qualified tuition and related expenses.) 

How will this change impact your eligibility to file for the tuition credit for 2018?  Beginning with the 2018 tax year, the IRS reporting regulations require only payments received and posted in tax year 2018 to be reported in Box 1 of the 2018 1098-T form.  Any payments made in 2018 for qualified charges (tuition and fees) for the Spring 2019 semester, will NOT be captured on the 1098-T form in the tax year 2019.  Only payments made in the tax year for which the 1098-T form is generated will be reported in Box 1 for that given tax year.  This may impact your tax credit eligibility.

 You can find detailed information about claiming education tax credits in IRS Publication 970, page 9 by visiting www.irs.gov.

 

W-9S FORM Information

Please complete the W-9S Taxpayer Identification form to complete your ITIN (Individual Taxpayer Identification Number) or SSN (Social Security Number) as required by the IRS (Internal Revenue Service) in order to file the tax form 8863 using the tuition statement 1098T.  Please follow the instructions in completing and saving this form to the secure portal of the Registrar's Office:

How to complete the form: Please click the W-9S to open the form, complete and save:

  •          Once open, you must complete Part I, by entering your full legal name; your Social Security Number or ITIN, and entering your permanent home address;
  •          Complete Part II by signing and dating the form;
  •          Complete Part III by entering your Dickinson Student ID number.
  •          Please save your completed form and upload it securely to the Registrar’s Office (instructions below) for your record to be updated.

Go to  https://www.dickinson.edu/regofficeupload

  • Login to the Gateway (if prompted)
  • On the Registrar’s Office Document Submission page,
    • Select W-9S (under Types of files you are uploading)
    • Either drag the file(s) you are submitting into the Document/Image Upload box or ‘click to upload’ the files.
    • Click Next
    • Confirm details and click Submit Form

As the form states under Penalties – If you fail to furnish your correct social security number or tax identification number to the requester, you are subject to a penalty of $50.00 unless your failure is due to reasonable cause and not to willful neglect.
 

Loan Interest Payment Statement 1098E

IRS Form 1098-E is sent to students/parents with educational loans from loan servicing agencies. This statement provides the interest paid for the tax year for educational loans. Although this interest may be deductible, lending institutions are not required to send them out if the interest amount is less than $600.00 for the tax/calendar year.