Tuition Statement - IRS Form 1098-T

Box 1. Payments Received for Qualified Tuition and Related Expenses

The total payments from any source received by William & Mary for qualified tuition and related expenses less any reimbursements or refunds made during the calendar year that relate to payments received during the calendar year. Please note the amount in Box 1 will NOT equal to or sum to the charges paid for the calendar year because not all charges are considered qualified tuition and related expenses as defined by the IRS.

Box 4. Adjustments Made for a Prior Year

This box is used to report reductions in qualified tuition and related expenses that were reported in a prior year. This amount may reduce any allowable education credit you may claim for the prior year. 

Box 5. Scholarships or Grants

This box reports the total amount of all scholarships or grants posted to your account during the calendar year. Scholarships and/or grants will be reported in Box 5 and Box 1 (payments received).

Box 6. Adjustments to Scholarships or Grants for a Prior Year

This box is used to report reductions to scholarships or grants previously reported in prior years. 

Box 7. Checkbox for Amounts for an Academic Period Beginning in January through March (the following calendar year)

This box will be checked if qualified tuition and related expenses are paid in one year, but the academic period begins January through March of the following year. Example: Winter term charges are billed in December but classes begin in January.

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 during the calendar year. This will only make a difference for undergraduate students since the requirement to attend at least half time is an American Opportunity Tax Credit (AOTC) requirement.  This tax credit only applies to an eligible student for the first four years of higher education.

Box 9. Check if a Graduate Student

This box will be checked 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.

Why did I receive a 1098-T?

Institutions are required by law to report to IRS the names of all students who were enrolled in any course for credit during the previous calendar year and if any was graduate coursework. Additionally, institutions are required to notify the student that the IRS has been provided with this information.

Why didn't I receive a 1098-T?

Institutions are not required to furnish a 1098-T to students enrolled for courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program; to students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships; to students whose qualified tuition and related expenses are covered by a formal billing arrangement; to students who withdrew and earned no academic credit, as they are not eligible to claim an education tax credit even if they paid tuition for that semester; to students who are not US Citizens (generally non-resident aliens or foreign nationals), unless a request is made by the student; or to those students whose calculations net to zero.

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

Keep it with your tax records. You are not required to attach the 1098-T to your tax return since William & Mary furnishes a copy to the IRS. The information on the 1098-T will help you determine if an education tax credit or tuition deduction can be claimed on your tax return.

Can I view a copy of my 1098-T online?

If you received a 1098-T from the Bursar's Office, you may view or print your 1098-T in eServices.  From the home screen in eServices, select 'My Account', then from the drop down menu under 'My Account' select 'Statements', next select the '1098-T Tax Statement' tab.   Students may also allow their authorized users access to view the 1098-T statements online.  In eServices under 'My Profile Setup'  select  'Authorized Users'  then take action by clicking 'Yes' next to the question  'Would you like to allow this person to view your 1098-T tax statement? ' .

Why was an amount reported in Box 2 prior to tax year 2018, but reported in Box 1 this year?

In tax years prior to 2018, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) William & Mary billed to your student account for the calendar (tax) year. However, due to a federally mandated change institutions are now required to report in Box 1 the amount of QTRE you paid during the year, beginning with tax year 2018.

Is the CARES Act funding included on my 1098-T?

No, the IRS has determined that these grants not be reported on the 1098-T form pursuant to section 6050W of the Internal Revenue Service code.

What does the amount reported in Box 1 on my 1098-T mean?

The amount in Box 1 represents total payments from any source received by William & Mary for qualified tuition and related expenses less any reimbursements or refunds made during the calendar year that relate to payments received during the calendar year. Please note the amount in Box 1 will NOT equal to or sum to the charges paid for the calendar year because not all charges are considered qualified tuition and related expenses as defined by the IRS.

How do I know how much I paid in tuition?

You should keep your tuition statements for each semester and refer to them when preparing your tax return. If you cannot locate the statements, you may access your account by logging in to myW&M. Although you should keep a copy of the 1098-T with your tax records, the amounts you paid in tuition and qualified related expenses are really all you will need.  The IRS has been informed of your student status.

I received scholarships that are not included in Box 5, Scholarship or Grants, why?

William & Mary only reports scholarships or grants administered and processed directly by William & Mary. Scholarships and grants generally include payments received from 3^rd parties (excluding loan proceeds), which includes payments received from governmental and private entities.  A scholarship or grant is administered and processed by William & Mary if we received payment of an amount, whether by check, cash, electronic transfer, or other means, which is reasonably known to be a scholarship or grant.  We may not include scholarships or grants received from an outside organization if it is not recognized as such or if the funds were sent directly to you by the 3^rd party. Those not reported on your 1098-T by William and Mary could potentially reduce the amount of the education credit you claim for the year. Please see IRS Publication 970 - Tax Benefits for Higher Education (pdf) to determine the treatment of scholarship funds received.

If I am on a Study Abroad program that is not William & Mary related, how do I get the tax information?

William & Mary does not provide any information for outside Study Abroad programs.  You will need to contact the organization that handled your program and ask for tax information from them.

The Social Security Number (SSN) on my 1098-T is not correct, what should I do?

Notify the Bursar's Office immediately of any errors so corrections can be made to your 1098-T information. A Request for Student's Taxpayer Identification Number and Certification must be completed and submitted to the Bursar's Office. Do not send this form via your email account, as it contains very sensitive information.

Also, please contact the Registrar's Office and submit a Change Request Name/SSN/Citizenship/Legal Sex Form to update your overall student record.

The name and/or address on my 1098-T is not correct, what should I do?

Notify the Bursar's Office immediately of any errors so corrections can be made to your 1098-T information. A Request for Student's Taxpayer Identification Number and Certification must be completed and submitted to the Bursar's Office. Do not send this form via your email account, as it contains very sensitive information.

Also, please contact the Registrar's Office and submit a Change Request Name/SSN/Citizenship/Legal Sex Form to update your overall student record.