1098-T FAQ

Form 1098-T, Tuition Statement, is used to report qualified tuition and related expenses.

In previous years, your 1098-T included a figure in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your student account for the calendar (tax) year. Congress and the IRS eliminated the option for colleges to report the "amounts billed;" we must now report the "amounts paid" for qualified tuition and related expenses. Beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year. You will no longer see any amount in Box 2.

The dollar amounts reported on your Form 1098-T may assist you in completing IRS Form 8863 – the form used for calculating the education tax credits that a taxpayer may claim as part of your tax return. Depending on your income (or your family's income, if you are a dependent), whether you were considered full or half-time enrolled, and the amount of your qualified educational expenses for the year, you may be eligible for a federal education tax credit.

Bucknell University is unable to provide you with individual tax advice, but should you have questions, you should seek the counsel of an informed tax preparer or adviser. As in previous years, the 1098-T will be provided to students by January 31.

1098-T Frequently Asked Questions

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