Form 1098-T:
You may download your 1098-T form, if applicable, no later (typically earlier) than January 31st, in CIS:
- Select the Tuition and Loans tile
- Select the View 1098-T option
Retain this statement for your records.
You may download your 1098-E form, if applicable, no later (typically earlier) than January 31st, in the same location that you make your Online Loan Payments.
- Select View your Tax Document
Retain this statement for your records.
An eligible educational institution, such as a college or university, is required to report certain information to enrolled students on Form 1098-T in order for the student to claim the education tax credits or the Tuition and Fees tax deduction. This statement is required to support any claim for an education tax credit. Form 1098-T is also furnished to the IRS.
Although the tuition tax credits or tuition deductions will benefit many taxpayers, the laws and regulations governing the credits and deductions are complex. Accordingly, you may wish to consult a tax advisor. The University of Utah cannot give you tax advice.
IRS Publication 970 “Tax Benefits for Education” gives a more detailed explanation of the American Opportunity Tax Credit, the Lifetime Learning tax credit, and the Tuition and Fees tax deduction.
In order to assist students’ determination of tuition tax benefits eligibility, student tuition history detail can be accessed online through CIS:
- Select the Tuition and Loanstile
- Select Tuition History
- Select terms for which you made payments in during the year
No Form 1098-T is provided if a student’s qualified tuition and fees are waived or paid in entirety with scholarships. In such situation, pursuant to IRS regulations, the University is not required to prepare Form 1098-T for the student, nor to report information to the IRS on such student’s tuition and fees.
Noncredit course information is not reported on Form 1098-T pursuant to IRS regulations.
No form 1098-T if student is not billed directly by the University of Utah for qualified tuition and related expenses.
Educational institutions must report the net amount of payments received (box 1) for qualified tuition and related expenses during the calendar year. Only adjustments made for a prior year for amounts billed for qualified tuition and related expenses will be reported separately (box 4). Scholarships, grants, and third parties’ payments will be reported in box 5 and only adjustments made during the year to scholarships, grants, or third parties’ payments reported in a prior year are reported separately (box 6). If the amount reported in box 1 included payments received for an academic period beginning in January through March of 2022, box 7 will be checked.
Qualified tuition and related expenses are tuition, fees and course materials required for a student to be enrolled at or attend an eligible educational institution. The following are not qualified tuition and related expenses:
- Amounts paid for any course or other education involving sports, games, or hobbies unless the course or other education is part of the student’s degree program or is taken to acquire or improve job skills.
- Charges and fees for room, board, insurance, medical expenses (including student health fees), transportation, and similar personal, living, or family expenses.
- Box 1. Payments Received for Qualified Tuition and Related Expenses. This box contains total payments received during the calendar year for qualified tuition and related expenses. The amount reported is the total payments received less any reimbursements or refunds made during the calendar year that relate to those payments received for the same calendar year.
- Box 2. Blank (Reserved)
- Box 3. Blank (Reserved)
- Box 4. Adjustments Made for a Prior Year. This box shows current year adjustments made for prior year’s qualified tuition and related expenses that were reported on a prior year form 1098-T. This amount may reduce any allowable tuition and fees deduction or education credit that you claimed for the prior year (may result in an increase in tax liability for the year of the refund). See “recapture’ in the index in IRS Publication 970 “Tax Benefits for Education” to report the reduction in your education credit or tuition and fees deduction.
- Box 5. Scholarships or Grants. This box contains the total amount of any scholarships or grants that the University administered and processed during the calendar year for the payment of the student’s costs of attendance. Scholarships and Grants generally include all payments received from third parties (excluding family members and loan proceeds). The amount of scholarships or grants for the calendar year (including those not reported by the University) may reduce the amount of any allowable tuition and fees deduction or the education credit the student may claim for the year.
- Box 6. Adjustments to Scholarships or Grants for a Prior Year. This box shows current year adjustments to prior years’ scholarships or grants. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year. You may have to file an amended income tax return (Form 1040X) for the prior year.
- Box 7. Checkbox, if amount in Box 1 Includes Amounts for an Academic Period Beginning in January through March of 2022. The box will be checked if any payments received for qualified tuition and related expenses reported for 2021 include amounts for an academic period that begins in January through March of 2022. See IRS Publication 970 “Tax Benefits for Education” for how to report amounts.
- Box 8. Check if at Least Half-Time Student. This box will be checked if the student was at least a half-time student during any academic period for the calendar year. Undergraduate student is 6 hours or more Graduate student is 5 hours or more
- Box 9. Check if a Graduate Student. This box will be checked if the student was a graduate student. The student is a graduate student if the student was enrolled in a program or programs leading to a graduate-level degree, graduate-level certificate, or other recognized graduate-level educational credential. If the student is enrolled in a graduate program, he or she is not eligible for the American Opportunity credit, but may qualify for the Lifetime Learning credit.
- Box 10. Insurance contracts Reimbursements or Refunds. This box will be blank as the University is not an insurer.
Form 1098-E:
An eligible financial institution, governmental unit (or any of its subsidiary agencies), educational institution, or any other person who receives student loan interest of $600 or more from an individual during the year in the course of your trade or business, is required to file Form 1098-E to the IRS. If more than one person has a connection with the loan, only the first person to make the interest payment must file Form 1098-E.
Form 1098-E, Student Loan Interest Statement, will be available, if you paid student loan interest of $600 or more during the year in the course of your trade or business. The $600 threshold applies to each borrower regardless of the number of student loans. However, you may file a separate Form 1098-E for each student loan. Or, it all may may be included on one Form 1098-E for the interest from all student loans.
To be reportable for 2022, a student loan must be either:
- Subsidized, guaranteed, financed, or otherwise treated as a student loan under a program of the federal, state, or local government, or of a postsecondary educational institution
- Certified by the borrower as a student loan incurred solely to pay qualified higher education expenses. You may use Form W-9S to obtain the certification.
- Box 1. Student Loan Interest Received by Lender. Enter the interest you paid on a student loan(s) during the calendar year. For loans made on or after September 1, 2004, we are required to include in box 1 payments of interest as described in Regulations section 1.221-1(f). Under that regulation, interest includes capitalized interest and loan origination fees that represent charges for the use or forbearance of money. See Regulations section 1.221-1(f).
- Box 2. Checkbox-This box is checked if loan origination fees and/or capitalized interest are not reported in box 1 for loans made before September 1, 2004