1098-T Information

1098-T FAQ

Please refer to the brief 1098-T Guide for additional information. 

When does Mercer University mail the 1098-T forms?

1098-T forms will be sent via U.S. Mail no later than January 31, 2014.

What is the 1098-T form?

The information on the 1098-T form is being provided to assist the student with filing for the education tax benefits/tax credit deductions, such as the Lifetime Learning Tax Credit, Hope Scholarship, Tax Credit, or the Above-the-Line Tax Deduction for Qualified Higher Education Expenses.  See the IRS website for more information.

How do I view my 1098-T form?

Mercer University is required to mail a 1098-T form to any student that was enrolled and had qualified expenses billed during the previous calendar year. The 1098-T may also be available on your MyMercer portal under My Finances.

Why didn't I get a 1098-T form?

There are several reasons why a 1098-T form may not be generated or received:

  • If you received more scholarships and/or grants than the amount of qualified tuition and fees billed.
  • If you didn't provide us with your Social Security Number (SSN)
  • If your 1098-T form was sent to an incorrect address.

What are Qualified Charges?

Qualified charges include tuition and mandatory fees a student is required to pay in order to be enrolled at or attend Mercer University.  Charges and fees associated with room, board, student activities, athletics, insurance, books, equipment, transportation, and similar personal, living, or family expenses are not qualified.

Why is Box 1 empty?

Schools can choose to either report qualified charges by payments received for qualified charges or by amounts billed.  Mercer University's financial software reports 1098-T information by amounts billed.  Because of this, Box 1 will always be empty.  Box 2 will contain any qualified charges billed for calendar year 2012.

Why do charges for Room and Board and various other charges not appear on my 1098-T?

Charges and fees associated with a room, board, student activities, athletics, insurance, books, equipment, transportation, and similar personal expenses are not qualified charges allowed by the IRS.

I still do not understand my 1098-T, what do I do?

E-mail bursar@mercer.edu and Mercer University will provide a response within 48 hours.  In the e-mail you will want to provide as much detail as possible as to why you do not understand your 1098-T form.

Additional Information:

An eligible educational institution, such as a college or university in which you are enrolled, and an insurer who makes reimbursements or refunds of qualified tuition and related expenses to you must furnish this statement to you. You, or the person who can claim you as a dependent, may be able to claim an education credit on Form 1040 or 1040A for the qualified tuition and related expenses that were actually paid in 2012. Institutions may report either payments received in box 1 or amounts billed in box 2. The amount shown in box 1 or 2 may represent an amount other than the amount actually paid in 2012. Your institution must include its name, address, and information contact telephone number on this statement. It may also include contact information for a service provider. Although the service provider may be able to answer certain questions about the statement, do not contact them or the filer for explanations of the requirements for (and how to figure) any education credit that you may claim. For more information about the credit, see Pub. 970, Tax Benefits for Education; Form 8863, Education Credits; and the Form 1040 or 1040A instructions.

Understanding your 1098-T

Account number. May show an account or other unique number the filer assigned to distinguish your account.

Box 1. Shows the total payments received from any source for qualified tuition and related expenses less any related reimbursements or refunds.

Box 2. Shows the total amounts billed for qualified tuition and related expenses less any related reductions in charges.

Box 3. Shows whether your institution changed its method of reporting for 2012. It has changed its method of reporting if the method (payments received or amounts billed) used for 2012 is different than the reporting method used for 2012. You should be aware of this change in figuring your education credits. The credits are allowable only for amounts actually paid during the year and not amounts reported as billed, but not paid, during the year.

Box 4. Shows any adjustment made for a prior year for qualified tuition and related expenses that were reported on a prior year Form 1098-T. This amount may reduce any allowable education credit that you claimed for the prior year. See "recapture" in the index to Pub. 970 to report a reduction in your education credit or tuition and fees deduction.

Box 5. Shows the total of all scholarships or grants administered and processed by the eligible educational institution. The amount of scholarships or grants for the calendar year (including those not reported by the institution) may reduce the amount of the education credit you claim for the year.

Box 6. Shows adjustments to scholarships or grants for a prior year. This amount may affect the amount of any allowable tuition and fees deduction or education credit that you claimed for the prior year. You may have to file an amended income tax return (Form 1040X) for the prior year.

Box 7. Shows whether the amount in box 1 or 2 includes amounts for an academic period beginning January-March 2012. See Pub. 970 for how to report these amounts.

Box 8. Shows whether you are considered to be carrying at least one-half the normal full-time workload for your course of study at the reporting institution. 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 Hope credit. You do not have to meet the workload requirement to qualify for the lifetime learning credit.

Box 9. Shows whether you are considered to be enrolled in a program leading to a graduate degree, graduate-level certificate, or other recognized graduate-level educational credential. If you are enrolled in a graduate program, you are not eligible for the Hope credit, but you may qualify for the lifetime learning credit.

Box 10. Shows the total amount of reimbursements or refunds of qualified tuition and related expenses made by an insurer. The amount of reimbursements or refunds for the calendar year may reduce the amount of any education credit you can claim for the year.