In previous years, your student’s 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student’s account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE your student paid during the year.
Depending on your student’s income (or your family’s income, if they are a dependent), whether you were considered full- or half-time enrolled, and the amount of their qualified educational expenses for the year, they may be eligible for a federal education tax credit. (You can find detailed information about claiming education tax credits in IRS Publication 970, page 9.)
The dollar amounts reported on their 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 their tax return.
Missouri Western State University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser.
Here is a blank sample of the 2018 Form 1098-T, for your general reference. Actual 1098Ts, if your student qualifies for one, will be available to print from their Goldlink account in January 2019. They may on to Goldlink and select Financial Aid & Billing/Paying for College/Student Bill Inquiry, Payment Options, and Print Your Official 1098T. Then follow the screen prompts. For more information about Form 1098-T, visit https://www.irs.gov/pub/irs-pdf/f1098t.pdf.