1098T Statements

All eligible educational institutions must file a Form 1098-T to report information to the Internal Revenue Service (IRS) for each qualifying student for whom a reportable transaction is made during the calendar tax year. The 1098-T form that you received is for your use in preparing your federal income tax return. Please note that your 1098-T form may not provide all of the information you need to determine eligibility for tax credits and deductions. Eligibility for any tax benefit depends upon your individual facts and circumstances and the College cannot provide you with any tax advice.

If you did not opt-in to receive your 1098-T form electronically, one will be mailed to your permanent address on file with Oberlin College.  You may retrieve an unofficial copy online via Banner Self Service.

In previous years, the 1098-T provided a figure in Box 2 of the form that represented the qualified tuition and related expenses (QTRE) that were BILLED to the student’s account for the calendar (tax) year.  Due to a change to institutional reporting requirements mandated by federal law, beginning with tax year 2018, the amount of QTRE PAID and posted during the calendar year will be reported in Box 1.

For more information about Form 1098-T, visit irs.gov

Eligible or qualified charges include tuition charges and mandatory fees required for a student to be enrolled at or attend Oberlin College and receive academic credit for the completion of course work leading to a degree.

Non-qualified charges include books, housing, meal plans, insurance, and other non-mandatory fees.

The IRS previously allowed institutions of higher education the option of reporting either payments received (Box 1) or qualified charges billed (Box 2). In years past, Oberlin College elected to report qualified charges billed (Box 2).  Due to a change to institutional reporting requirements mandated by federal law, beginning with tax year 2018, the amount of qualified tuition and related expenses (QTRE) paid during the calendar year will be reported in Box 1.

This represents the total of all scholarships or grants received and processed for the calendar year.

Oberlin College is not required to file Form 1098-T or furnish a statement for:

• Students whose scholarship and or grants (Box 5) exceeds the billed amount (Box 2).
• International students who are not U.S. residents.
• Oberlin College does not have your Social Security Number - this information is required for Form 1098-T reporting (make sure you provide us with this information).
• If your address on record is out-of-date, your Form 1098-T may have been returned.

The taxpayer is responsible for determining eligibility.

For more detailed information please visit the IRS website  to obtain Publication 970 (Tax Benefits for Education)/Form 8863 (Education Credits) or consult with a professional tax practitioner.