1098-T Frequently Asked Questions
A. Bucknell is required to furnish the 1098-T to you at your permanent address postmarked no later than January 31.
Q. I graduated in May, but I didn't receive a 1098-T for this tax year....why?
A. Bucknell reports Spring semester transactions on the prior year's 1098-T when the transactions are actually billed.
Q. Where can I get a copy of my 1098-T?
A. Students can view and/or print their 1098-T by logging into myBucknell at my.bucknell.edu and using the Banner Web Quick Link.
Q. Where can I see additional information regarding my 1098-T?
A. Students can view details of the amounts listed on Form 1098-T, as well as supplemental information which may help determine your eligibility for the Hope and Lifetime Learning tax credits, by logging into myBucknell at my.bucknell.edu and using the Banner Web Quick Link.
Q. Where can I get help with questions regarding my tax filing?
A. Questions regarding your taxes or eligibility should be directed to your personal tax advisor or the IRS Taxpayer Assistance at 1-800-829-1040. Additionally, please visit the IRS Tax Information for Students at http://www.irs.gov/individuals/students/index.html.
Q. Why did I receive this form?
A. The 1098-T form is used by eligible educational institutions to report information about their students to the IRS as required by the Taxpayer Relief Act of 1997. Eligible educational institutions are required to submit the student's name, address, taxpayer identification number (TIN), as well as enrollment and academic status. Educational institutions must also report amounts to the IRS pertaining to qualified tuition and related expenses, as well as scholarships and grants.
Q. Did Bucknell send this information to the IRS?
A. Yes. Section 6050S of the Internal Revenue Code, as enacted by the Taxpayer Relief Act of 1997, requires institutions to file this information to assist taxpayers and the Internal Revenue Service in determining eligibility for the Hope and Lifetime Learning education tax credits.
Q. Why isn't there an amount in "Box 1" of my 1098-T?
A. The IRS instructs institutions to report either payments received for qualified tuition and related expenses (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T. Bucknell reports qualified tuition and related expenses that were billed during the tax year (Box 2), therefore, Box 1 will be blank.