1098-T’s will be posted to eStallion before January 31 each year. Specific Instructions for Form 1098-T (For Tax Years 2018 and Beyond)
Starting with the tax year 2018, the federal law has changed the reporting requirement for each University. The University must report payments received for qualified tuition and related expenses. We also report any scholarships/grants you received (free money not required to be paid back) on the 1098-T form (Box 5). We will now report out of pocket payments received (Box 1) on the 1098-T form and not charges billed (Box 2). This includes cash, check, credit card, and loan payments.
The following is an explanation of the information Georgia State reports:
Filer’s Name and Address box: The University’s address (Student Accounts address) is printed in this box.
Filer’s Federal Identification Number box: The University’s FEIN and a contact phone number (229-391-4924) are printed in this box.
Student’s Social Security Number box: The student’s social security number is printed in this box. Only the last four digits are printed on the form. If the student did not provide an SSN, there will be no SSN reported.
Student’s Name and Address boxes: The student’s name and mailing address (MA) are printed in these boxes (if the mailing address field is not populated in Banner, the address hierarchy looks for a permanent address).
Box 1: Payments received for qualified tuition and related expenses
Box 1 payments include any credits that are applied to your student account posted during the calendar that paid for Qualified Tuition and Related Expenses (QTREs). These include cash, check, wire, credit card payments as well as any loans, scholarships, waivers, and grants.
The QTREs that are paid are typically those related to the academic terms that occur between January and December of the reporting year.
These amounts would be reduced by any reimbursements or refunds made during the reporting calendar year that relate to those payments received during that reporting year.
Box 2:**As of tax year 2018, no longer required to report this information**
Beginning with Tax Reporting year 2018, changes to the IRS regulations now require that colleges and universities report only the Payments Received Method of reporting information on Qualified Tuition and Related Expenses (QTREs). We will no longer be reporting amounts billed for qualified tuition and related expenses.”
Box 3: Has your institution changed its reporting method?
Will be checked for 2018 because the Institution has changed its reporting method for 2018.
Box 4: Adjustments made for a prior year
This box contains any payment adjustments made during the calendar year for a prior calendar year.
Box 5: Scholarships or grants
This box contains the sum of all scholarships and grants ABAC administered and processed for the student’s account during the calendar year. Scholarships that pay for tuition (qualified scholarships) as well as for housing, books, and other expenses (non-qualified scholarships) will be included in this amount. Tuition waivers and payments received from third parties that are applied to student accounts for educational expenses are included in this box.
Box 6: Adjustments to scholarships or grants for a prior year
Decreases or refunds of scholarship amounts related to scholarships reported in a previous year are included in this box. This amount is reported as a positive number per IRS requirements. However, it is actually a decrease in the amount that was reported on a prior year 1098-T.
Box 7: Payments for next year
This box will be checked if the amount reported in Box 1 includes Payments Received and posted to a student account in the current year that pays for a semester beginning in the next calendar year. For example, payments received in December 2017 for the Spring 2018 Academic term will be reported on a 2018 1098-T. Box 7 will be checked to indicate that this is the case.
Box 8: Student is at least half time
A check in this box indicates that you are or have been enrolled at ABAC at least half-time for at least one semester during the calendar year.
If you are at least a half-time student for at least one academic period that begins during the year, you meet one of the requirements for the American Opportunity credit. You do not have to meet the workload requirement to qualify for the Lifetime Learning credit.
Box 9: Graduate student
This box is checked if the student was a graduate student.
Box 10: Not used
This box is not used by ABAC, so it will be blank.
