1098-T Forms for Tax Preparation
1098-T forms are the forms used to claim payments toward Qualified Tuition and Related Expenses (QTRE) on Federal income tax forms.
1098-T forms are generated toward the end of January each year and reflect all payments made toward QTRE billed within the same calendar year, as well as any grants, and\or scholarships, if applicable, that were received.
SUNY New Paltz Federal EIN identification number is: 16-1514621
Students must have a valid Social Security Number (SSN), or Tax ID Number (TIN) on file with the Office of Records and Registration to be sure they are not penalized by the IRS when filing their taxes. A W-9S form is emailed to all students who are eligible for a 1098T form, but whose SSN\TIN is not on file. Please contact Student Accounts if you believe you did not receive a form in error.
What is reported on the 1098-T form?
Box 1 of the 1098T form reports payment made toward ‘Qualified Tuition and Related Expenses' (QTRE) that are billed within the calendar year. QTRE include Tuition + College Fee, Mandatory Student Service Fees, as well as any Course \ Lab Fees associated with classes for which the student may be registered.
It is important to note that charges for the Spring semester most often are billed in November of the prior year. Payments made against those QTRE would have been reported on the prior year's 1098T. Likewise; because the subsequent Spring semester's QTRE within the calendar year, Box 1 will include payments made toward these future term QTRE charges made in the calendar year; this is why the future term box is checked on the form for students who are currently enrolled.
Box 1 may also include CARRY OVER charges of QTRE from the prior calendar year, if applicable. If a student was billed for more in QTRE than they paid, then any payments applied to those left over charges from the prior year would also be included in Box 1.
For example; Student A was billed for $1000 in QTRE in year 1. They paid $500 toward the QTRE in year 1. The remaining $500 of QTRE billed in year 1, for which no payments were received, are carried over and added to the eligible amount of QTRE reported in year 2.
Box 1 is capped at the QTRE billed within the calendar year + any carry over QTRE, if applicable.
What is NOT reported on the 1098-T form?
Charges such as Room+Board & Meal Plan do not qualify for a tax credit. Therefore any payments made toward these non-QTRE are not reported in Box 1 of the 1098T form.
The 1098-T form does not reflect payments made toward any given semester, but reflects only payments made toward QTRE billed within the calendar year. The 1098-T will NOT, therefore, give you accurate billing and payment information for what you paid toward any given semester. If you would like a breakdown of all the charges and payments made toward the student’s account, you may print out a Statement of Accounts from the student’s MY.NEWPALTZ.EDU page.
We are not tax professionals, but can only provide you with accurate information regarding the payments that were made toward the QTRE billed and reported in Box 1.
You can give consent to receive your 1098-T form electronically through our service provider HEARTLAND\ESCI here: