1098-T on BengalWeb
The IRS has provided the option for students to receive the 1098-T information electronically. We ask students to consent to the electronic delivery option through the survey link on the 1098-T Forms channel. Information on the consent process is available at the Electronic 1098-T Option web page.
The 1098-T Form for 2013 will be available on BengalWeb on the Finances tab in mid-January. The forms for 2011 and 2012 are now available. The form includes transaction detail. From the 1098-T Forms link, enter the year [2011, 2012 or 2013 (when available)] and submit. In Print Preview (in Internet Explorer), pick Only the selected frame option to print the form and transaction listing. It should display the form and the related transaction detail for the year.
Since we report the Billed Amount in Box 2 of the form, it is necessary to identify when the qualified fees were actually paid. The IRS requires documentation of qualified tuition and fees that were paid in the year you are claiming the credit or deduction. Please use the transaction detail to help identify the amount paid during the year to use in claiming the credit or deduction.
American Opportunity Credit/Lifetime Learning Credit/Tuition and Fees Deduction
The American Opportunity Tax Credit (modified and expanded Hope Scholarship Credit) is available for students in their first four years of post-secondary education. The amount of the credit is 100% of the first $2,000 of tuition and qualified fees, plus 25% of the next $2,000, to a maximum $2,500 per each eligible student. The student must be enrolled at least halftime in a degree/certificate program in at least one semester or term beginning in the year for which they are claiming the credit. The credit phases out at high income levels. The qualified related expenses include required books, supplies and equipment not necessarily required to be purchased from the institution. See IRS Form 8863 and instructions for changes and comparisons with other credits and deductions.
The Lifetime Learning Credit is available to ISU students who are not eligible for, or who elect not to use the American Opportunity Tax Credit or the Tuition and Fees Deduction. It is calculated at 20% of the first $10,000 of tuition and qualified fees, to a maximum of $2,000 per tax return. No minimum enrollment is required, and it is available for an unlimited number of years.
The Tuition and Fees Deduction of up to $4,000 is available to students who are not eligible for, or who elect not to use, the American Opportunity credit or Lifetime Learning credit. This is an adjustment to income, and is available to higher income tax brackets than the credits listed above.
Only qualified tuition and fees paid from personal funds or educational loans qualify for calculation of these credits and deductions. Tax-free scholarships, employer-provided educational assistance, and other financial aid grants reduce the amount of qualified payments used in calculating the tax credits and deduction. Charges and fees associated with room, board, student activities, athletics, insurance, books (except for American Opportunity Credit), equipment, transportation, and similar personal, living, or family expenses are not qualified tuition and related expenses.
While ISU personnel are not authorized to give tax advice, more ISU related tax information is available on the ISU_1098-T Information Sheet.
Form 1098-T Processing for 2013
2013 1098-T Processing: Idaho State University will be processing 1098-T in January 2014. The forms will be available electronically in BengalWeb, on the Finances tab. We invite students to select the electronic option to receive Form 1098-T, enabling quicker access to the information, and access to the associated transaction listing that will be available on BengalWeb. Forms that are mailed will not have the transactions listed on the form. The information related to 2011 and 2012 1098-T Forms will also be available on BengalWeb
2010 and 2011 ECSI Processing: Idaho State University converted systems from a legacy system to the Sungard Banner student module effective for Fall Term 2010. We combined the transactions from the Spring 2010/Summer 2010 legacy system and the Fall 2010/Spring 2011 Banner system using ECSI, a service provider, to help us report the combined information. ECSI provided the 1098-T Forms to students for 2010 and 2011. In addition, they provided on the 1098-T Form, login information to access to their website (www.ecsi.net/1098t). Those who already have login access to ECSI from Perkins Loan servicing can access 1098-T information through the same login.
Reporting Method: Because of the change in student system processing, it became necessary to change the method of reporting on 1098-T. Prior to 2010, Box 1 (Payments Received) had been reported. For 2010 and after, Box 2 (Charges Billed) is the method used. It is necessary to evaluate the payments made in the calendar year to determine the correct amount of tuition and qualified fees paid to report on Form 1040. The detail transactions are available on BengalWeb. The transactions listed are those processed in the related calendar year.
Addresses: The 1098-T Forms are generally going to the student's mailing address, if available. Those who have not provided a valid address should contact ISU 1098-T Services to update their address. The forms are available on the BengalWeb Finances tab. Please review your address in BengalWeb and update, if necessary, by January 2. If your address on the 1098-T Form is incorrect when it becomes available, please also notify ISU 1098-T Services of your change in address, so your correct address is sent to the Internal Revenue Service.
Corrections: If the taxpayer identification number (SSN or TIN), name, address or other information provided on the 1098-T form is incorrect, please call (208) 282-3935 by March 15, 2014 to correct the information. This will allow us to provide you with a corrected 1098-T, and to submit correct information to the IRS. You may also provide corrections via fax at (208) 282-4701 or stop by Student Financial Services, Room 317 on the third floor of the Administration Building (Building 10).
NonResident Aliens: Students who are NonResident Aliens (NRA) are generally not eligible for educational tax benefits. We excluded NRA students who have not provided taxpayer identification numbers from the 1098-T process. Those who need to have their information reported to the IRS by us can verify the taxpayer identification number and request the reporting by calling (208) 282-3935.
IRS Information Related to 1098-T Forms:
- W-9S Form - Used to certify corrections of your name and Social Security Number with ISU.
- IRS Form 8863 and Instructions - Used to claim Hope Scholarship/Lifetime Learning Credit.
- IRS Form 8917 and Instructions - Used to claim the Tuition and Fees Deduction
- IRS Publication 970 - Tax Benefits for Higher Education
- IRS Information for Students
- Phone: 282-3000 (option 6: 1098-T)
- Fax: 282-4701
- 921 S 8th Ave Stop 8219, Pocatello, ID 83209-8219