Registration and Billing

Form 1098T FAQ

Q1. I just received a Form 1098-T in the mail. What is this form?

A1. Universities and colleges are required to issue the Form 1098-T Tuition Statement for the purpose of determining a student's eligibility for the American Opportunity Credit (renamed the already existing Hope credit) and Lifetime Learning education tax credits. For more information on the American opportunity tax credit, please refer to the IRS website. This form is informational only. The Form 1098-T is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student's name, address, and taxpayer’s identification number (TIN), enrollment and academic status. Beginning with 2003, educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and/or grants, taxable or not.

Form 1098-T is mailed each year by the end of January to those students who had tuition and fee charges in the preceding calendar year and may be used in income tax filings. It should not be considered as tax opinion or advice. Please give this form to your tax preparer to determine if you are eligible for any tax credits.

Q2. What am I supposed to do with the Form 1098-T?

A2. Keep it for your records. Since the University sends your Form 1098-T information to the IRS, there is no need to attach a copy of the form to your tax return. The information contained in the Form 1098-T will help you to determine if you may claim the American opportunity (renamed the already existing Hope credit) or the Lifetime Learning education tax credits.

Q3. The Social Security (SSN) or Individual Taxpayer Identification Number (ITIN) Number on my Form 1098T is missing or incorrect. What should I do?

A3. Reporting to the IRS depends primarily on your SSN, so it is very important for you to have the correct information on file with the University. Please complete Form W-9S which can be printed from the IRS Website and submit Form W-9S along with a copy of your Hofstra ID to Gertrude M. Cucciniello in the Office of Academic Records, located in 206 Memorial Hall to ensure the data we send to the IRS is accurate.

Q4. Why is Box 1 blank?

A4. Box 1 – Payments received for qualified tuition and related expenses will be blank for all Hofstra students. Schools are directed to choose a method of reporting, either by reporting the payments received for qualified tuition in Box 1 or by reporting the amounts billed for qualified tuition and related expenses in Box 2. Hofstra has chosen the latter method. This does not mean your "payments received for qualified tuition and related expenses" are zero. To review all payments and other credits applied to your account during the year please review your account on our Hofstra Portal.

Q5: What does an amount in Box 4 mean?

A5. Box 4 - Adjustments made for a prior year shows an amount if qualified tuition and related expenses that were reported on a 1098-T for a prior year were subsequently adjusted or reduced in the current tax year.

Q6. What does an amount in Box 5 mean?

A6. Box 5 - Scholarships or grants shows the net amount of certain forms of educational assistance that was received or applied to your student account during the tax year (January - December), regardless of the term for which the funds were originally intended. Any subsequent adjustments or reductions to educational assistance that occurred in the same tax year are summed into the amount. The net amount is sent to the IRS.

Q7. What does an amount in Box 6 mean?

A7. 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 adjusted or reduced in the current tax year.

Q8. What does the check mark in Box 8 mean?

A8. Box 8 - Check if at least half-time student, if checked, indicates that you were considered to be enrolled at least half-time for one or more terms during the tax year.

Q9. What does the check mark in Box 9 mean?

A9. Box 9 - Check if graduate student…, if checked, indicates that you were enrolled in a graduate program for one or more terms during the tax year. The University checks this Box if you attended as a graduate student for any term of your enrollment during the tax year.

Q10. Do I need to report my scholarships as taxable income?

A10. Scholarships that pay for qualified tuition and related expenses are not taxable to the student. However, if any portion of your scholarships paid for non-qualified expenses, then you may be responsible for reporting such portion as taxable income on your tax return. For further guidance, please review IRS Publication 970, ‘Tax Benefits for Education’ at the IRS Website.

Q11. How are late fees reported on my Form 1098-T?

A11. Fees charged for late registration and/or late payment are shown as non-qualified expenses, and are not reported anywhere on your Form 1098-T.

Q12. How can I get a copy of my 1098-T?

A12. Simply log on to the Hofstra Online Information System through the Hofstra Portal. Once you are logged on, go to the ‘Hofstra Online’ tab, select the ‘Student Accounts’ link and then select the ‘Tax Notification’ link.

Q13. Can I get a copy of last year's Form 1098-T?

A13. Yes, provided that a form was issued to you. Follow the instructions above for getting a copy of your Form 1098-T, making sure to select the tax year of interest from the drop-down menu Box. Please note, the current tax year appears in the window by default.

For additional information, please consult the following:

• IRS Website
• Internal Revenue Service: 1-800-829-1040