What is Form 1098-T?
Eligible educational institutions file Form 1098-T for each student they enroll and for whom a reportable transaction is made.
Frequently Asked Questions
How do I receive a copy of Form 1098-T?
The IRS requires Form 1098-T to be postmarked by January 31 of the following calendar year. This form is mailed to the student’s billing address if they were enrolled at Bethel for at least half time during the calendar year.
Where can I get a listing of payments made to Bethel?
Students may view your qualified fees and payments applied to those fees by going to e-portal. If you are not able to get this information on the website, a statement can be obtained from the Business Office.
My Form 1098-T contains incorrect information. How can this be corrected?
Contact the Business Office and explain what information you feel is incorrect. If Form 1098-T does contain incorrect information, a corrected form will be issued.
What are qualified and non-qualified expenses?
As determined by the federal government, qualified expenses are defined as expenses required by and paid to the institution for enrollment purposes. They include fees for maintenance, tuition, technology, facilities, and a portion of the programs and services fee. Non-qualified expenses are defined as books, room and board, student activities, parking, athletics, insurance, equipment, or other similar personal living expenses. As a result, the amount of qualified expenses will likely be less than the total amount of money paid.
Tax Form Details
Box 1 – This box will be blank. Bethel has elected to report the amount billed.
Box 2 – The amount billed to the student for qualified tuition and related expenses less any related reimbursements or refunds for the calendar year. Health fees and counseling fees are not qualified; therefore the full amount of the Program and Services Fee to the student will not be reported. Spring 2018 charges will be included in Box 2 if the student registered for spring 2018 in 2017.
Box 3 – Shows whether Bethel changed its method of reporting for 2017. This box will not be checked.
Box 4 – It is the amount of any adjustments made for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit you may claim for the prior year. See Form 8863 or the IRS Pub 970 for more information.
Box 5 – This box includes the total of all scholarships, grants, internal NPE’s and fee waivers administered and processed by the university. Spring 2018 scholarships or grants awarded in 2017 will appear in Box 5.
Box 6 – It is the amount of any adjustments made for prior year scholarships, Internal NPE’s grants, and fee waivers that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit you may claim for the prior year.
Box 7 – This box will be checked if the amount in Box 2 includes amounts for an academic period beginning January – March 2018. See the IRS Pub 970 for how to report these amounts. This box is checked.
Box 8 – Indicates whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at Bethel. If you are at least a half-time student for at least one academic period that begins during the year, you meet one of the requirements for the Hope Credit. You do not have to meet the workload requirement to qualify for the tuition and fees deduction of the lifetime learning credit.
Box 9 – Indicates whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential. If you are enrolled in a graduate program, you are not eligible for the Hope credit, but you may qualify for the tuition and fees deduction or the lifetime learning credit.
Box 10 – This box will always be blank on any 1098-T form you receive from Bethel.
1098T Instructions from the IRS
IRS Tax Information for Students