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Top 1098-T Questions

Table of Contents:

 

1. When will I receive my 1098T form?

a. The 1098T’s will be available online by January 31 to students and Authorized Users that have been specifically given access to the 1098T.

Obtaining the IRS Form 1098-T online:

1.  Students/Authorized Users obtain the 1098T form through TouchNet

STUDENT:

    • Log into myPurdue
    • Select the 'Financial' tab
    • Select 'Manage My Account'
    • Under '1098-T Statement', click 'View' next to the year you need

AUTHORIZED USER:

    • Log into TouchNet
    • Under '1098-T Statement', click 'View' next to the year you need
      **If you do not see the '1098-T Statement' area, you most likely have not been given access to the 1098T specifically by the student, please see 2.

2.  Student change access of 1098T for Authorized User in TouchNet

STUDENT:

    • Log into myPurdue
    • Select the 'Financial' tab
    • Select 'Manage My Account'
    • Go to the 'Authorized User' tab under 'My Account'
    • Click 'Edit' by the email address of the person you are wanting to change access for
    • The second question is "Would you like to allow this person to view your 1098-T Tax statement?"
      This answer must be changed to "Yes" in order for the Authorized User to have access to the 1098-T (as the default to the question is "No".)

2. What am I supposed to do with this 1098T statement?

a. This information is being provided in order to help individuals determine and support their eligibility for higher education tax credits. You should consult with your tax advisor for specific information regarding your eligibility, as income requirements apply.

3. Why isn’t there an amount present in Box 1 on my 1098T?

a. Purdue University reports the tuition billed to the student’s account between January 1 and December 31 of the given tax year (box 2), not as to when payments are made on the account (box 1).  Therefore, Box 2 will be filled in and Box 1 will be blank.

4. Why is my social security number incorrect?

a. If a student has not provided us with a social security number, the student’s Purdue ID number is substituted.  The students can submit their social security numbers on a W-9 form found at http://www.irs.gov/pub/irs-pdf/fw9s.pdf. This must be submitted before 1098T’s are generated for the reported tax year. We cannot provide a corrected 1098T form after.

5. Why might the IRS not get a 1098T for me?

a. 1098T statements are not reported if scholarships and grants meet or exceed the amount of billed fees reported on the form. As a general rule, individuals are not eligible to receive a higher education tax credit if their gift aid exceeds their educational fees. An electronic version of the 1098T may be available to students on TouchNet, but there will be no 1098T reported to the IRS.

6. Why aren't the previous Spring charges appearing on my 1098T statement?

a. The Spring charges of the previous year were reported on the previous year’s 1098T statement. This is because Purdue reports based upon when fees are billed, not when you made payment for those fees. Generally, fees for the Spring are billed during November /December, and therefore are a part of the previous tax year’s charges reported.

7. What is being reported in the different boxes on my 1098T statement?

a. Click here to view the explanation of the boxes.