Your 1098-T Form

Student Financial Services mails 1098-Ts for the previous calendar year on or before January 31st.  Students and/or bill-payers may use the information on this form to help calculate their eligibility for tax credits and deductions for the IRS filing year reported on the form.

Once mailed, 1098-T information is also available via Student Account Center online. Students may also allow their parent access to view the 1098-T online by indicating the access for the Authorized User on Student Account Center.  Please refer to Federal Tax Benefits for Higher Education site for additional information. 

Reading the 1098-T

BOX 1

Not applicable.  Institutions are required to report either net amount of payments received or the net amount billed for tuition.  Seattle University’s software provider allows for reporting the net amount billed only.  Therefore, Box 1, Qualified Payments, will be blank even if you made payments in the year being reported.

BOX 2

Total amount of Qualified Tuition and Related Expenses charged to the student's Seattle University student account during the calendar year being reported.

Tuition and fees, such as lab, matriculation, study abroad, lesson, nurse-testing or doctoral fees are examples of Qualified Expenses. By regulation, room, board, insurance, transportation, expenses not directly billed (books, supplies, equipment), or other personal expenses cannot be included. Please refer to IRS Publication 970 and IRS Form 8863 to calculate eligibility and/or credit.

BOX 3

Not applicable to Seattle University.

BOX 4

Reflects adjustments made to the tax year prior to the one being reported on the form.

BOX 5

Reflects scholarships and grants posted to the student's Seattle University student account in the year being reported as payment toward the cost of attendance. Included are institutional, federal, state and/or private scholarships and/or grants that were posted on the student account.

If the student received and used a state and/or private scholarship and/or grant check for the payment of the cost of attendance without posting it directly to the student's account, this amount will need to be added the amount reported in Box 5.

BOX 6

Reflects the adjustments in the year being reported to grants or scholarships from the calendar year prior to the year being reported. 

BOX 7

Is checked if any of the expenses reported in Box 2 relate to an academic period that begins in January through March of the year following the year being reported.

BOX 8

Is checked if the student was enrolled half-time or greater in the year being reported.

BOX 9

Is checked if the student was a graduate student in the year being reported.

BOX 10

Is not applicable and is not used by eligible higher education institutions.

Frequently Asked Tax Questions

What period does this tax credit cover?

1098-Ts, which are mailed each year on or before January 31, are for the immediately preceding calendar year.

Is Seattle University an eligible institution?

Yes. Seattle University is an eligible institution of Higher Education recognized by the U.S. Department of Education and the IRS.

Can an eligible student claim both a Hope credit and a Lifetime Learning credit?

No. A student can only claim one or the other tax credit in any given tax year.

How is the tax credit calculated?  Can Student Financial Services help with the calculation?

Unfortunately, Seattle University is unable to provide tax advice to students or parents. It is the taxpayer's responsibility to determine and document the information used in their tax return. It will be helpful to refer to the student's Payment and Registration Invoices for the year being reported for eligible charges and payments. Additional information and assistance can be found in IRS Publication 970 or by contacting a tax advisor.

But how can the tax credit be calculated if SU does not provide amount?

IRS Form 8863 is a worksheet designed to walk the taxpayer through the calculation process. The tax filer can use the student's Registration and Payment eStatements in combination with the worksheet to establish if they are eligible and, if they are, the amount of credit they are eligible to receive.