1098-T Change – Frequently Asked Questions
Q: What is the IRS Form 1098-T?
A: The Form 1098-T is a statement that colleges and universities are required to issue to certain students. It provides the total dollar amount charged to your student account for what is referred to as QTRE in a single tax year.
Q: When will I receive my Form 1098-T?
A: Your Form 1098-T will be available to you electronically on or before January 31 through the Student Administration System. It is located under the “Finances” section of the Student Center within the “other financial…” drop-down box. Paper forms will be mailed on or before January 31 to those students that did not choose to receive their Form 1098-T electronically.
Q: Why does UConn report my charges instead of my payments?
A: Institutions are allowed to report either payments received or amounts charged. UConn has elected to report the amounts charged to your student account and must report consistently to every student. We are not allowed to provide a Form 1098-T that reports the payments on an individual basis.
Q: Does the 1098-T include charges for books?
A: No. You should consult with your tax advisor to determine if payments for books and other expenses and fees should be reported on your 1040.
Q: If I print out my Fall and Spring bills will it show all of the information associated with the 1098-T?
A: Charges and payments posted do not follow a calendar year semester basis. You may need to look in various Term Fee Bills to capture all relevant information.
Q: I am an undergraduate student. What semesters are included in my Form 1098-T?
A: Typically charges are posted to your student account in December for the Spring semester and June for the Fall semester. Depending on when you registered for classes your Form 1098-T could include charges for different semesters. Your Term Fee Bills will detail the specific dates charges were posted to your account and is a valuable resource for determining the semesters that are included in your Form 1098-T. You can find your Term Fee Bills in the Finance section under Student Center in the Student Administration System.
Q: I am a graduate student. What semesters are included in my Form 1098-T?
A: Charges for graduate students are posted to your account when you register for class. Your Term Fee Bills will detail the specific dates charges were posted to your account and is a valuable resource for determining the semesters that are included in your Form 1098-T. You can find your Term Fee Bills in the Finance section under Student Center in the Student Administration System.
Q: I am a graduate student and I received Fellowship Payments. Where is my fellowship on my 1098-T?
A: For form 1098-T purposes fellowships are considered aid and reported in Box 5 (scholarships, aid, grants, fellowships). When on a calendar year cumulative basis, aid posted in the calendar year exceeds QTRE in the calendar year, a form is not generated.
Q: I am a graduate student- where does my health insurance and health insurance subsidies appear on my 1098-T?
A: Since the Health Insurance (both medical and dental) are not QTRE they are not reported in box 2 of your 1098-T. Health Insurance Subsidies (both medical and dental) are reported in box 5 of the 1098-T as they qualify as aid.
Q: I am a Non-Residential Alien (NRA) where is my 1098-T?
A: The IRS does not require us to prepare a form for NRA's- unless they request one. Please contact the Bursar's Office if you would like this form.
Q: I graduated in May of last year, do I have a 1098-T for 2013?
A: Generally speaking, May 2013 graduates will not have a 1098-T form. Since the form is based on amounts charged to your account in 2013, and Spring charges are generally posted in November of 2012- there are no 2013 charges to report.
Q: How do I do my taxes without a 1098-T?
A: Whether or not you receive a form 1098-T does not matter for tax purposes. For tax purposes you must report amounts you paid for QTRE in the calendar year, and/or amounts received in grants in the calendar year. Regardless of whether or not you have received a form- generally you may wish to consider referring to your Term Fee Bills and look for payments posted to your account.
Q: My accountant says I need a form with information in Box 1 (amounts paid). I need an updated form.
A: Per the IRS the University has the option to include information in Box 1 (amount paid) or Box 2 (amount charged) - but never both- and never on a student-by-student basis. Your Term Fee Bills reflect payments posted to your account in the calendar year and you may wish to provide them to your accountant.
Q: The information on my form (Box 2) is wrong. My QTRE is higher
A: If a tuition waiver has been posted to your account, that amount is deducted from the QTRE that is posted to Box 2 (charges posted). Tuition waivers are not included in Box 5 (scholarships/aid), but are netted against the tuition charge thereby decreasing the amount reflected in Box 2.
Q: My SSN/Address is wrong on my form. Can I have a new one sent to me?
A: If your SSN/Address is incorrect, you will need to contact the Registrar's Office (860)486-3331 or Registrar@uconn.edu to update your information. After the update has processed your updated Form 1098-T will be available online.
Q: I can't see anything because I have graduated and have forgotten my access information.
A: Please contact the UITS Department at (860)486-HELP and they will reset your access to your Student Administration Account.
Q: I don't understand what to do with this form. HELP!
A: We are unable to provide tax advice. For guidance you may want to consider IRS Publication 970.
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