General Descriptions of boxes on Form 1098-T Box 1 (“Payments received for qualified tuition and related expenses”) of your 1098-T displays the net amount of payments received during the tax year (January – December) that were required as a condition of your enrollment and attendance. To “qualify,” payments must relate to an academic period for which fees are due and payable during the tax year and for which instruction begins no later than March of the following tax year. Box 2 (“Amounts billed for qualified tuition and related expenses”) is blank because of the recent IRS requirement to change reporting methods starting with the 2018 tax year. All institutions are required to report payments in Box 1. Box 3 (“Check if you have changed your reporting method) is not required for 2021. Box 4 (“Adjustments made for a prior year”) will show any refunds during the current year for payments of “qualified tuition and related expenses” reported on a 1098-T for a prior tax year. Box 5 (“Scholarships or grants”) reflects financial aid and scholarships made to the student during the tax year. Box 6 (“Adjustments to Scholarships or grants for a prior year”) shows an amount if “scholarships or grants” that were reported on a 1098-T for a prior year were subsequently reduced in the current tax year. Box 7 if checked, indicates that “payments received” in Box 1 include payments for terms that start in the first three months of 2024 (i.e. Spring). Box 8 if checked, indicates that you were considered to be “enrolled at least half-time” for one or more quarters during the tax year. At William Paterson University, “at least half-time” means that you were enrolled in 6 or more units for any semester. Box 9 if checked, indicates that you were enrolled in a graduate program for one or more quarters during the tax year. The University checks this box if you attended as a graduate student for any semester of your enrollment during the tax year. Box 10 (“Ins. Contract reimb./refund”) is blank because William Paterson University is not an insurer. Why doesn’t my student ID appear on my Form 1098-T? An institution assigned ID number is not a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN). The IRS requires that we leave the box blank in cases of invalid SSNs and ITINs. What address was used to mail my Form 1098-T? Form 1098-Ts are mailed to the student’s permanent address on file maintained by the University. Will my Form 1098-T show my entire Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN)? The SSN or ITIN will be truncated to show only the last four digits. Why is there nothing represented in Box 2 on my Form 1098-T? Institutions of higher education no longer have the option of reporting qualified charges billed in (Box 2) to the IRS. Effective 2018 and thereafter, William Paterson University will be reporting payments received (Box 1). What are "qualified" or "not qualified" charges? Eligible or qualified charges include: Non-qualified charges include the following: In-State tuition charges Out-of-State tuition charges Plus other eligible fees including the following: Student Gov Assoc Fee Technology Fee Late payment fees Late registration fees Room and board or similar living expenses Transportation Meals Books Family expenses Courses taken for no credit (unless taken to improve job skills) Expenses paid at any time other than in the current year, January 1 to December 31 Insurance Medical expenses If I made a payment for the Spring 2024 semester in the 2023 calendar year, will I see it on my 2023 Form 1098-T? Yes, it will appear on your 2023 Form 1098-T. Box 7 will also be checked to indicate that the “payments received” in Box 1 include payments for terms that start in the first three months of the upcoming year. Will I receive a Form 1098-T if I made qualified payments but withdrew from classes? Yes, per IRS regulations, you will receive a Form 1098-T for only the amount of qualified expenses that have not been refunded. Does the Form 1098-T notate if financial aid covered my tuition and fee charges? Yes, if you receive a Form 1098-T, any financial aid received during the tax year will be displayed in Box 5. Note that if your tuition and fees were entirely covered by financial aid, you will not receive a Form 1098-T. Are my Federal and Private Loans included in my Form 1098-T? Yes, All loans used to pay qualified educational charges were considered in the same manner as cash payments when generating your Form 1098-T. How can the Lifetime Learning Credit or American Opportunity Credit be claimed using the Form 1098-T? Students or their parents who may be eligible for these federal income tax credits can claim these credits using IRS Form 8863. William Paterson University cannot advise students on the preparation of their tax return. Please contact the IRS or your tax professional for guidance. See the ‘Helpful Resources’ links below. If I must file an amended tax return due to a corrected Form 1098-T, will I be compensated for the additional charges? William Paterson University does not compensate students or parents for these costs. Does William Paterson University send a copy of this form to the IRS? Yes, per IRS regulations, William Paterson University is required to report this information. Is my entire Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) reported to the IRS? No, when William Paterson University reports Form 1098-T information to the IRS, only the last four digits of your SSN or ITIN is submitted. Helpful Resources: For more information regarding the American Opportunity Credit and Lifetime Learning Credit, you may visit the following websites: IRS Publication 970, Tax Benefits for Education: http://www.irs.gov/pub/irs-pdf/p970.pdf Form 8863- Education Credits (American Opportunity and Lifetime Learning Credits): http://www.irs.gov/forms-pubs/about-form-8863 Tax Benefits for Education: Information Center: http://www.irs.gov/newsroom/tax-benefits-for-education-information-center Form W-9S: Request for Student’s or Borrower’s Taxpayer Identification Number and Certification: http://www.irs.gov/pub/irs-pdf/fw9s.pdf Accessing My Form 1098-T Why didn't I receive a Form 1098-T? You may have received more scholarships and/or grants than the amount of qualified tuition and fees paid; the University is not required to produce a Form 1098-T. If you are an international or high school student, you are not eligible to receive Form 1098-T. The Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) on my Form 1098-T Tuition Statement is missing or incorrect. What action should I take? The IRS reporting requirement is that we include your Social Security Number (SSN) or Individual Taxpayer Identification (ITIN) when reporting Form 1098-T data. It is important that we have your complete and accurate information on file. The IRS requires that an institution files the statement without the individual’s SSN or ITIN, but with all other required information. We will leave the SSN box blank in cases of invalid SSN or ITIN numbers. To update your SSN or TIN, please click on https://wpconnect.wpunj.edu/students/firsttime-ssn-update/default.cfm and enter your official SSN or TIN. Please have you SSN or TIN card available when you enter the information. The link will require you to login to WPConnect for security purposes. The deadline to provide your SSN or TIN is December 31, 2023. If you need to update an incorrect SSN or TIN, you need to complete and submit Form W-9S, “Request for Student’s or Borrowers Taxpayer Identification Number and Certification" and mail it to the Office of Student Accounts. For students who do not have an SSN or ITIN on file by December 31, 2023, the Form 1098-T "may" be generated with a blank in the SSN field and this information will be reported to the IRS. If you do not provide a valid SSN or ITIN, the IRS may fine you or require you to return the credits claimed if you fail to update your SSN or ITIN. I received a notice about submitting a Form W-9S, why? Per IRS regulations, any student who does not have a valid Social Security Number (SSN) or Individual Taxpayer Identification Number (ITIN) must be notified of the method in which to correct their SSN or ITIN. If you have obtained your valid SSN or ITIN, please contact the Office of Student Accounts about submitting Form W-9S, “Request for Student’s or Borrowers Taxpayer Identification Number and Certification.”
