Qualified students receive a 1098-T form for "qualified tuition and related expenses."
Please consult a tax expert for information about how to claim these expenses on your taxes.
Tax Information and Benefits for Education
In accordance with requirements of the Tax Relief Act of 1997, the 1098-T 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 Jan. 31 each year through MyUB. (See "How to Access Your 1098-T " below.)
We recommend you contact a tax adviser when determining your qualified tax credit amount.
Students can obtain more information about student loan interest deductions, lifetime learning credits and Hope Scholarship credits from the IRS. For additional information, reference IRS Publication 970, Tax Benefits for Higher Education and Publication 520, Scholarships and Fellowships , also available by calling 1.800.TAX.FORM.
Please note, that IRS Form 1098-T is for informational purposes only. The data which appears on these forms can be used to claim educational tax credits, but the figures provided neither guarantee nor preclude eligibility for these tax credits. "Qualified tuition" in this context is determined by guidelines issued by the IRS. This may or may not reflect "qualified tuition" as determined by certain educational funding organizations, such as 529 plans. As a result of differing definitions as to what constitutes "qualified tuition". there may be variation among the amounts that are deemed to qualify.
How to Access Your 1098-T
Students eligible to receive a 1098-T are able to access the document through MyUB. Students who grant consent to receive their 1098-T form electronically can access the their forms as soon as they become available as well as retrieve prior year 1098-T forms without delays. If a student fails to grant consent to receive the information electronically, the Office of the Bursar will mail out the 1098-T forms the last business day of January. If you have questions or concerns about this matter, please contact us.
- Access your 1098-T information by logging into MyUB and clicking My Student Center in the upper, left-hand corner.
- Scroll down to the "Finance" section and click the down arrow.
- A list of several items will appear in a drop-down box; click the "View 1098-T" option toward the bottom of the list. Follow the instructions.
- If you need assistance viewing your 1098-T online, please contact us.
Helpful Information and Forms
Frequently Asked Questions About 1098-Ts
What is a 1098-T?
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, taxpayer's identification number (TIN), enrollment status, amounts pertaining to qualified tuition and related expenses, and scholarships and/or grants, taxable or not. A 1098-T form must also be provided to each applicable student..
Why did I receive a Form 1098-T?
In January of each year, the University of Baltimore (UB) provides secure electronic access to your 1098-T. This IRS Form 1098-T is for all students who had qualified tuition and other related educational expenses billed to them during the previous calendar year. If the form is not electronically accessed, it is mailed at the end of January.
Did you send a copy of this form 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 IRS in determining eligibility for the Hope and Lifetime Learning education tax credits.
Why isn’t there an amount in Box 1?
The IRS instructs 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. The University of Baltimore reports qualified tuition and related expenses that were billed during the tax year (Box 2); therefore, Box 1 - Payments Received for Qualified Tuition and Related Expenses will be blank.
For purposes of Box 5, what scholarships and grants are included?
The figure in Box 5 includes scholarships, grants and, if applicable, payments made by a third party under formal billing arrangements (i.e. outside scholarships, employer provided educational assistance (regardless of taxability), military, etc.) which have been administered by the University of Baltimore. If you received other forms of outside scholarships and grants not administered by the University of Baltimore, it is your responsibility to adjust the figure accordingly. Third party payments do not include payments made by your parent(s) or other individuals.
What amounts appear in Box 6 – Adjustments to scholarships or grants for a prior year?
This box shows the amount of any scholarship, grant, and if applicable, third party reductions in the current calendar year for aid that was credited in a previous calendar year.
What charges are considered "qualified tuition and related expenses," reported in Box 2 of my 1098-T?
All tuition and mandatory fees billed during the calendar year are qualified expenses. Billed charges are reported, but UB does not report on paid charges.
I am being taxed on my employer provided educational assistance. Why should this be considered a scholarship or grant?
The University of Baltimore does not determine whether your education benefits are being taxed by your employer. As such scholarships and grants are increased by 100% of any employer provided payments under a formal billing arrangement and it is up to the student to adjust their qualified tuition and related expenses accordingly based on the taxability of their employer benefits.
I am an international student; can I claim a credit?
Generally, foreign students cannot claim a credit. However, some foreign students may be eligible. Review IRS forms, instructions and publications for guidance.
Why didn't I receive a 1098-T?
You are not eligible to receive one if:
- You are an international student.
- The amount posted to your account was paid by either from a third-party sponsor and/or employer.