The 2003 tax year was the first year in which educational institutions were required to report financial information to the Internal Revenue Service (IRS) and to the student via the IRS Form 1098-T.
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Forms are mailed by SUNY’s Form 1098-T partner, ECSI, at the end of January.
The 1098-T is a record of the financial information reported by The College at Brockport to the Internal Revenue Service (IRS) on a student's behalf. The information includes the total amount paid for qualified tuition and related expenses in a tax year. The College’s 1098-T includes the amount of qualified tuition and related expenses (QTRE) paid during the tax (calendar) reporting year; payments are listed in Box 1 of the Form 1098-T. Per IRS regulations, related expenses do not include charges for room, board, insurance, health fees, transportation fees, optional fees, or other similar expenses. The Form 1098-T also includes the total amount of scholarships or grants disbursed in a tax year. These are reflected in Box 5 of the form. Depending on a variety of factors, including income (or family income, if the student is a dependent), whether the student was considered to be full or half-time enrolled, and the amount of the student’s qualified educational expenses for the year, the student/family may be eligible for a federal education tax credit. Detailed information regarding claiming education tax credits can be found in IRS Publication 970 (pdf).
1098-T forms will be mailed to the student’s permanent address of record on January 31. If the student has not provided a valid permanent address, or has deactivated their previous permanent address record, a 1098-T will not be mailed. Students may update their permanent address by following the steps below.
- Go to Web Banner
- Login using your NetID and Password
- Select Personal Information
- Use the drop-down box located under “Type of Address to Insert”
- Select “permanent” and complete all fields as appropriate
The College at Brockport is unable to provide you with individual tax advice. You should seek the counsel of an informed tax preparer or adviser for guidance regarding eligibility regarding the educational tax credit.