The 1098-T form, an important document for students at Texas State University, reports tuition and related expenses for educational tax credits or deductions. Accessing and understanding this form through Self Service Txstate is crucial for accurate tax filing. This guide breaks down the key components of the 1098-T.
Understanding the Boxes on Your 1098-T
Box 1: Amounts Paid for Qualified Tuition and Related Expenses (QTRE). This box reflects payments made towards qualified tuition and related expenses billed during the calendar year. Note that payments for health services or transportation are not considered qualified tuition by the IRS and won’t be included here.
Box 4: Adjustments Made for a Prior Year. This box shows any adjustments made to a previous year’s 1098-T form. These adjustments might reduce any education credits claimed in the prior tax year.
Box 5: Scholarships and Grants. This box displays the total amount of scholarships and grants processed by Texas State University. This amount can reduce your eligible tuition and fees deduction or education credit.
Box 6: Adjustments to Scholarships or Grants for a Prior Year. Similar to Box 4, this section details adjustments to scholarships or grants from a previous year, potentially impacting prior year tax claims.
Additional Information on Your 1098-T
Box 3: Change in Reporting Method. This box is checked, indicating that Texas State University changed its reporting method starting in tax year 2018.
Box 7: Amounts for an Academic Period Beginning in the Next Calendar Year. If checked, this box signifies that Box 1 includes payments for an academic period starting in the following calendar year. This often applies to Spring semester payments made in November or December.
Box 8: Enrollment Status. A check in this box confirms enrollment in at least six credit hours (half-time) for one academic period beginning within the calendar year.
Box 9: Graduate Student Status. This box indicates whether you are enrolled in a graduate degree program, graduate certificate program, or other recognized graduate-level credential.
Accessing your 1098-T via Self Service Txstate
Texas State University provides convenient online access to your 1098-T form through Self Service Txstate. This platform allows you to view, download, and print your form when needed for tax preparation. Understanding your 1098-T is essential for maximizing potential education-related tax benefits. Consult a tax professional for personalized advice.
