The 1098-T is a record of the financial information reported by Amherst College to the IRS on a student's behalf. Depending on your income (or your family’s income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you 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 your 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 your tax return.
Amherst College does not provide personal tax advice, should you have questions, we suggest you seek the counsel of an informed tax preparer or adviser.
For reference, a blank sample of the 2022 Form 1098-T, that you will receive in late January 2023 is shown below. For more information about Form 1098-T, visit https://www.irs.gov/forms-pubs/about-form-1098-t.
*Receipt of payment must occur by the College on, or prior to, December 31, 2022 for inclusion on the 2022 Form 1098-T. Payments received after that date appear on the 2023 Form.
New IRS Reporting Requirements Beginning in Tax Year 2018
Beginning in tax (calendar) year 2018, all eligible education institutions are required by the IRS to report Payments Received for Qualified Tuition and Related Expenses (QTRE) in Box 1 up to the cost of QTRE billed. Box 1 may also include payments for past-due QTRE for a previous calendar year that were billed to you. Amounts Billed, Box 2, is now blank on the Form 1098-T. Scholarships & Grants are still reported in Box 5.
1098-T General Information
*For purposes below, an Eligible Student is a student who attended the College in tax (calendar) year 2022, paid QTRE received by the College in tax year 2022, and is a U.S. resident.
What is the irs form 1098-t?
Form 1098-T, Tuition Statement, is an IRS tax form filed by eligible education institutions to report payments received from students. The College must issue a form to every Eligible Student* as defined above.
who is issued form 1098-T?
The College must issue Form 1098-T directly to any eligible student even if QTRE is paid by someone else, including parents.
when and how will i receive my form 1098-t?
Form 1098-T is available electronically by the end of the day on January 31 through Workday. Students will receive an email notification when available. For students that do not elect to only receive Form 1098-T electronically, paper forms will also be mailed by January 31 to the permanent address on file.
Students can access Form 1098-T in Workday for tax year 2022. To access the form, log into Workday, navigate to the Menu and select Finances. On the bottom right of your Finances Menu, under Student Account Tax Information, select View My 1098-T. In the prompt, select the Calendar year and click OK. Please note only students have access to this form in Workday.
2021 and prior tax years Form 1098-T can be found in AC Data. To access the form, log into AC Data and select the Students Menu. Under Financial Information, select Tax Information. All prior year forms (when applicable) are available. If you encounter difficulty logging into AC Data, please email email@example.com. Please note only students have access to this form in AC Data.
can i receive my form 1098-t electronically?
Yes, all students have the ability to retrieve your Form 1098-T electronically through the above instructions. If you would like to opt out of having a paper copy mailed, please follow these instructions.
how do i print a copy of my form 1098-t?
For 2022 tax year, log into Workday, navigate to the Menu and select Finances. On the bottom right of your Finances Menu, under Student Account Tax Information, select Print My 1098-T. In the prompt, select the Calendar Year and click OK. The form can be saved and electronically sent to others as needed. You can also view these detailed instructions. Please note only students have access to this form in Workday.
For 2021 and prior tax years, log into AC Data and select the Students Menu. Under Financial Information, select Tax Information where the form 1098-T pdf is available. If you encounter difficulty logging into AC Data, please email firstname.lastname@example.org. Please note only students have access to this form in AC Data.
I am a parent and need a copy of my student's form 1098-t. How do i obtain one?
The College is unable to provide this document to anyone except the student. Parents must request this form from their student, who can follow the above instructions to electronically download and send the form as needed.