1098T Frequently Asked Questions
Form 1098-T is a tax form the University is required to file with the IRS and provide to each student. The form provides information that assists the taxpayer in determining their eligibility for a tax benefit from either the American Opportunity Credit or Lifetime Learning Credit.
You should receive a 2020 form 1098-T if you were a student taking any course(s) for credit at The University of Scranton during the Intersession 2020, Spring 2020, Special Spring 2020, Summer 2020, Special Summer 2020, Fall 2020 or Special Fall 2020, and you are a citizen or permanent resident of the United States of America. You will also receive a Form 1098-T if you were charged and paid for any Intersession 2021, Spring 2021, or Special Spring 2021 course(s) prior to December 31, 2020.
The University will provide Form 1098-T’s by February 1st.
A paper copy of the form will be mailed to your mailing address on file with the Registrar’s Office no later than February 1st and an electronic copy will be available by following the instructions below no later than February 1st.
You can obtain an electronic copy of your form by completing the following steps:
- Login to the my.scranton portal
- Student Records and Financial Aid
- Student Records
- Tax Notification
- Enter tax year 2020
In general, Form 1098-T will include amounts in Box 4 (prior year adjustments to amounts billed or payments received for qualified tuition and related expenses) and Box 6 (prior year adjustments to scholarships and grants) if you had a change for any prior year 1098-T reported amounts.
In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) the University billed to your student account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, the University will report in Box 1 the amount of QTRE you paid during the year.
- Login to the my.scranton portal
- On the Student Tab click on Access Nelnet Business Solutions in the Tuition Payments Box
- Click on Transaction Details (transactions are sorted by term and dates are listed in the first column)
- This summary can be printed by clicking on Print in the upper right hand corner.
If you are an Authorized Party through Nelnet Business Solutions you can obtain this by logging in at nbspayments.com.
The amount of your payments reported in Box 1 is limited by the total amount of Qualified Tuition and Related Expenses billed during calendar year.
Payments in Box 1 include all your personal payments and educational loans, as well as most scholarships and grants limited by the total amount of Qualified Tuition and Related Expenses billed during the calendar year.
As in all matters related to the tax implications of education expenses, The University of Scranton will be unable to advise parents and students. The University of Scranton cannot determine if you are eligible for either of the credits or the amount of credit for which you may qualify. We strongly encourage you to speak with a qualified tax advisor or the IRS. The IRS offers free forms, publications and other information through the following sources:
- IRS general website http://www.irs.gov
- IRS Publication 970 http://www.irs.gov/pub/irs-pdf/p970.pdf
- IRS FAQ’s https://www.irs.gov/faqs
- 1-800-4Fed-Aid Federal Student Aid Information Center
- 1-800-USA-Learn U.S. Department of Education
- 1-800-829-1040 Internal Revenue Service