1098-T Tax Information

 

 

 

• Tax Information and Benefits for Education

  In accordance with requirements of the Tax Relief Act of 1997 the 1098T tax credit form is intended to provide you with information to assist you in determining your eligibility for possible Hope Scholarship or lifetime learning credits. This form will be available before January 31 each year. If you do see it online, contact the Office of the Bursar at 410.837.4848. 

  It is recommended that you contact a tax adviser when determining your qualified tax credit amount.

  Students can obtain more information about student loan interest deductions, lifetime learning credit and hope credits from the IRS.

  IRS Publication 970, Tax Benefits for Higher Education, and Publication 520 Scholarships and Fellowships, are available from the IRS website or by calling 1-800-TAX-FORM.

• Delivery Method of 1098T Information to Qualified Students

  Beginning with the calendar year ending 2011, 1098T eligible students will be able to access their 1098T information through MyUB. By providing this availability to students, the University will be supporting the UB Green Initiative and provide a more streamlined and convenient way for students to access their important tax information.  Please note with this electronic convenience, the Office of Bursar will be not be mailing out the 1098T forms to students.  If you have questions or concerns about this matter, please contact our office.

• How to Access the 1098T Information for Calendar Year 2012

  1. Students can access the 1098T information by logging into MyUB and clicking the Student Center link in the upper left hand corner.
  2. Students then need to scroll down to the Finance Section and click the down arrow.
  3. This will allow a list of several items to appear in a drop down box, a view 1098T option will appear towards the bottom of the list.
  4. Click the view 1098T option and follow the instructions and students will be able to access their 1098T.
  5. If you need assistance in viewing your 1098T form online please contact the Office of the Bursar at 410.837.4848.

Frequently Asked About 1098Ts

• What charges are considered "Qualified tuition and related expenses", reported in Box # 2 of my 1098T?

  All tuition and mandatory fees billed during the calendar year. Billed charges are reported. UB does not report on paid charges.

• What makes up "Scholarships and Grants" reported in Box # 4 of my 1098T?

  All Scholarships posted to your account during the calendar year, including Pell, SEOG and tuition waivers.

• Why didn't I receive a 1098T?

  You are not eligible to receive one if:
  You are an international student.
  The amount posted to your account in scholarships during the calendar year was greater than the amount billed for tuition and mandatory fees during the calendar year.