*For purposes below, an Eligible Student is a student who attended the College in tax (calendar) year 2023, paid QTRE received by the College in tax year 2023, and is a U.S. resident.

what is qtre?

QTRE Includes:

  • Tuition and Student Activities Fee

QTRE excludes:

  • Housing and Meals, insurance, medical expenses (including student health fees), and various fees and charges 
what does each box represent on my form 1098-t?

Below is a brief explanation of the form's contents primarily from the IRS instructions:

Box 1. Reports the total payments received by an eligible educational institution in 2023 from any source for qualified tuition and related expenses less any reimbursements or refunds made during 2023 that relate to those payments received during 2023.

Box 2. Reserved

Box 3. Reserved

Box 4. Reports any adjustment made by an eligible educational institution 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 (may result in an increase in tax liability for the year of the refund). See "recapture" in the index to Pub. 970 to report a reduction in your education credit or tuition and fees deduction.

Box 5. Reports 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.

TIP: You may be able to increase the combined value of an education credit and certain educational assistance (including Pell Grants) if the student includes some or all of the educational assistance in income in the year it is received. For details, see Pub. 970.

Box 6. Reports 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. Reports whether the amount in Box 1 includes amount for an academic period beginning January- March 2023. See Pub. 970 for how to report these amounts.

Box 8. Reports 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.

Box 9. Reports 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. (Blank for the College)

Box 10. Reports 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 (may result in an increase in tax liability for the year of the refund). (Blank for the College)

Future Developments: For the latest information about developments related to Form 1098-T and its instructions, such as legislation enacted after they were published, go to https://www.irs.gov/forms-pubs/about-form-1098-t.

 

what payments will be reported in box 1?
  • Cash, check, credit & debit card payments (includes monthly payment plans through Nelnet)
  • Loans (direct subsidized & unsubsidized, private, & Parent PLUS)
  • Wire & third-party payments
  • Scholarships & Grants
do I need to report my scholarships as taxable income?

The College does not provide personal tax advice. Please refer to the IRS Website for more information on scholarships, grants and fellowships.

how can I get an itemized listing of the financial activity that is on my form 1098-t?

Account statements are available online by logging into Workday; select Finances. Next; under My Account (for students) or Tasks (for Third Party Users) select View Statement. Generate a PDF statement for each applicable term. (Spring 2023, Fall 2023, Spring 2024). 

did you send a copy of the form 1098-t to the irs?

Yes, the College is an eligible educational institution and is required by law to file Form 1098-T with the IRS.

what if my ssn/itin is blank or incorrect on my form 1098-t?

This represents the last four digits of the SSN/ITIN that the College has on record.

If this box is blank, the College does not have the number on record. The student will need to add his/her number through Workday by January 31 for inclusion in the Form 1098-T file submitted to the IRS. To add a SSN or ITIN in Workday, follow these instructions.

If this box is incorrect, please contact the Registrar's Office at 413-542-2226 to correct the student record. *Please DO NOT include an SSN or ITIN in email for security reasons.

My address listed on the form 1098-t has changed. will this affect me?

No, the address shown on Form 1098-T is irrelevant for IRS income tax filing purposes.

how do i obtain a corrected form 1098-T?

Please report discrepancies to Student Accounts at 413-542-2817 or email studentaccounts@amherst.edu.

how do i know if i am eligible for a tax credit or tax deduction?

The College does not provide personal tax advice. Please refer to the IRS website for the following resources on higher education tax benefits:

  • IRS Publication 970 "Tax Benefits for Higher Education", which includes chapters on the American Opportunity Credit, the Lifetime Learning Credit, and the tuition and fees deduction.
  • Form 8863 "Education Credits (American Opportunity and Lifetime Learning Credits)".
  • Instructions for Form 1040 or 1040A.
  • IRS Publication 17 "Tax Guide for Individuals".
  • IRS Telephone Assistance Hotline: 1-800-829-1040

The tax rules regarding eligibility for, calculation of, and limitations on the tuition and fee deduction and education credits can be complex. Individuals should consider consulting a tax advisor to determine whether they are qualified to claim the education expense tax credits and deduction.

*For purposes above, an Eligible Student is a student who attended the College in tax (calendar) year 2023, paid QTRE received by the College in tax year 2023, and is a U.S. resident.