Jump to other news and events
Purdue signature

Tax Credit Information

Top 1098-T Questions

Table of Contents:

 

 

1. When will I receive my 1098T form?

a. The 1098T’s must be made available before January 31.

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. Institutions are given the option of providing amounts that reflect either the amount of eligible payments received by the school or the amount of charges billed to the student. Purdue has elected to report the charges billed to the student. This is the amount billed at any point during the 2010 calendar year, regardless of when the student paid his or her bill.

4. Why is my social security number incorrect?

a. If a student has not provided us with a social security number, the student’s PUID# 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 2011. We cannot provide a corrected 1098T form after.

5. Why didn’t I get a 1098T?

a. 1098T statements are not produced 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. The electronic version is available to those students who did not receive one in the mail.

b. Incorrect or missing local address on MyPurdue is another reason that student’s may not receive a 1098T in the mail.

6. Why isn’t the previous Spring appearing on my 1098T statement?

a. The Spring of the previous year was already reported on last year’s statement. This is because we report based upon when fees are billed, rather than when you may have made payment for these fees. Generally, fees for the Spring are billed during November and early December, and therefore are a part of the last tax year.

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

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