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1098T Student Tax Form Frequently Asked Questions

1098T’s will be mailed out no later than Friday, 1/31/2014

Questions:

Q: Can I get another form sent to me?

A: Duplicate forms are available online through your Central Pipeline Account:

Instructions for accessing 1098T information on line:

    1. Navigate to the CCSU home page at www.ccsu.edu. Point to CentralPipeline, then click on CentralPipeline for Students (or click on Current Students).
    2. From the CentralPipeline home page, click on the WebCentral-Banner Web link and log in with your BlueNet account username and password.
    3. Select the “Student” tab.
    4. Select the "Tax Notification / 1098T" option
    5. Enter the "Tax Year" as “2013” and click “Submit”.
    6. A copy of the 1098T Form will come up, as well as the date mailed, and the detail of how the figures were arrived at.

Q: How much did I pay in 2013?

A: We don’t track how much you paid. We are only required to account for how much we billed for qualified Tuition and Fees in the calendar year 2013. Please see Box #2 on the 1098T forms. You will need to consult your own records for payment information but may find it helpful to pull your Account Status page from WebCentral/Banner Web:

  1. Navigate to the CCSU home page at www.ccsu.edu. Point to CentralPipeline, then click on CentralPipeline for Students (or click on Current Students).
  2. From the CentralPipeline home page, click on the WebCentral-Banner Web link and log in with your BlueNet account username and password.
  3. From the Home tab, click on the eBill/Make Payment link.
  4. From the menu on the left, click on eBill / ePayments.
  5. Click on View Accounts.

Q: How do you come up with that figure?

A: We account for all qualified expenses billed by the University in 2013 (January 1st through December 31st only). Accident Insurance charges, Sickness Insurance, Room & Board are NOT considered to be qualified expenses as per the IRS. Accident Insurance fees are part of the mandatory fees but are not itemized on the eBill. These are the amounts for accident insurance that would not be included as part of the Qualified Tuition and Fees on the 1098T form:

          Spring 2013           $130.00
        Fall 2013               $131.00
        Spring 2014           $129.75        

Q: Why didn’t the form include what I paid for Spring 2013?

A: Spring term is generally billed in December (Check Account Status Page), and therefore, would have been included in the 2012 1098T form.

Q: How do I get the deduction on my income tax?

A: We are not qualified to give tax preparation advice. Please see IRS Form 8863 and Publication 970, or consult your tax preparer.

Q: Can I get a corrected form?

A:   If you feel there is a discrepancy, file your IRS forms with the information you determine to be correct.

Q: What are boxes 4 and 6?

A: These are reductions made in 2013 to amounts previously reported to the IRS.


Other pertinent Information:

I. Overview of the tax credit

  • A student (or the taxpayer who claims him as a dependent) may claim a tax credit for the amount paid for qualified educational expenses during a year
  • American Opportunity or Lifetime Learning Tax Credits provided in the Taxpayer Relief Act of 1997 (TRA 97) and The American Recovery and Reinvestment Act of 2009 (ARRA)
  • Income limitations apply
  • Student must be US citizen or resident alien

II. Overview of IRS regulations

  • Have to report if at least a half-time student at any time during the year
  • Have to report if a graduate student at any time during the year
  • Have to report dollar amounts charged for:
    • Amounts billed for qualified expenses OR amounts paid for qualified expenses (CCSU chooses to report amounts billed)
    • Amounts of scholarships and grants
    • Changes to amounts reported in prior years
    • Have to indicate whether the amounts reported include amounts for terms beginning in three months of next calendar year – “future indicator”
    • Students must be mailed 1098T by January 31, 2014
    • We must report above information to IRS by mid-March
    • Don’t have to report if
      • Not a citizen or permanent resident – created 1098T anyway because we have to provide if requested.
      • No academic credit received during reporting period
      • Taking only non-credit courses (such as IELP)

III.  What we did

  • Built rules based on Qualified Tuition and Fees charges within calendar year 2013 (January 1, 2013 through December 31, 2013 effective dates)
  • IRS reporting – will send file to IRS by mid-March

IV.  Resources for the taxpayer

  • Consult their tax advisor
  • Publication 970
  • Form 8863

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