1098T Tax Form

On January 31, 2021, the Bursar Office will electronically post 1098-T forms to the MyMercer student portal for the 2020 reporting year. Only those students who opt out of this electronic format by December 31, 2020 will be sent a paper copy. The IRS requires educational institutions to provide this form to students who meet certain criteria.

Acquiring your 1098-T

  • 1098-T forms will be available electronically or mailed* by January 31 each year.
  • Log in with your Mercer credentials at my.mercer.edu.
  • Make sure you disable your pop-up blocker.
  • Navigate to the “My Finances” tab in the left-menu and then select the link under “View 1098-T". *

*If you chose to opt-out of electronic delivery prior to December 31, a paper copy will be mailed to your permanent address no later than January 31st. On-line retrieval allows secure delivery of your 1098-T informational tax form to your MyMercer account. Once posted you will have immediate access to your 1098-T form and can it print a copy for your records as needed.

1098-T Tax Form

  • The 1098-T is a record of the financial information reported by Mercer to the IRS on a student's behalf. The information on form 1098-T can be used to help you determine if you are eligible for educational tax credits - American Opportunity and Lifetime Learning Tax Credit- when filing a U.S. tax return.
  • The 1098-T is an "information form" only. It does not contain all the information needed to determine if you are eligible to receive a tax credit, and you are not required to attach it to your federal income tax return.
  • Per IRS regulations, this information will include the total amount paid for qualified tuition and related expenses in a calendar year, as well as the total amount of scholarships or grants disbursed in the calendar year.
  • Related expenses do not include charges for room, board, insurance, health fees, transportation or similar expenses.
  • If you need to review the individual payments made to your student account within a given calendar year, visit the transaction details section of your student account on MyMercer .
  • IRS REQUIRES THAT EITHER YOUR SOCIAL SECURITY NUMBER (SSN) OR YOUR TAX IDENTIFICATION NUMBER (TIN) APPEAR ON THE 1098-T in order for them to match your tax records to the electronic file provided by the University. Students who fail to provide Mercer with an accurate SSN or TIN may be subject to a fine from the IRS. It is imperative that this number is correct in your Mercer records. If you have not reported your SSN or TIN yet, please provide a copy of your card to the Registrar's Office as soon as possible.

Important IRS 2018 Tax Change

Changes have been made to the 1098-T tax form, as mandated by new IRS regulations. Beginning with transactions made in the 2018 calendar year, Mercer began reporting the amount paid for qualified tuition and related expenses in Box 1, as opposed to the previously reported amount billed in Box 2. Click here for more information on the impact of this change. 

Who is Eligible to Receive a 1098-T?

  • All eligible Mercer Students seeking academic credit who are:
    • US Citizens
    • Permanent residents
    • Eligible non-citizens who have filed a US taxpayer number on their records
  • Non-citizen students will only be issued 1098-T’s upon request. If you are eligible to file taxes and need a 1098-T Form. You may request the form on MyMercer using the 1098-T International Student Request on the My Finances tab. Requests made by February 15 will ensure your information is included in the electronic file submitted to the IRS.
  • Students enrolled in non-credit programs are not eligible to receive 1098-T forms.

Tax Advice: 

Mercer representatives are not permitted to give you individual tax advice. If you have questions, or encounter complicated tax situations, we suggest you seek the counsel of an informed tax preparer, qualified accountant or attorney.

 

Additional resources:

IRS Website – About from 1098-T, Tuition Statement

IRS Website – Am I eligible to claim an education credit?

IRS Publication 970 – Tax Benefits for Education