What is the 1098-T form?
Form 1098-T summarizes qualified tuition and related expenses for the calendar year, starting from January 1 to December 31.
When will the students get the tax form?
Cal Poly Pomona will mail the forms to the eligible students by January 31.
What are qualified education expenses?
Some of the qualified education expenses include:
Room, board, travel, insurance, health fees, and research are not qualified tuition expenses as regulated by the IRS.
Cal Poly Pomona is not required to furnish a 1098-T for the following:
Scholarships, grants, and waivers processed throughout the University are stated on Box 5 on the 1098-T. Loans are not reported on the 1098-T.
Universities are allowed by IRS regulations to report qualified expenses using one of two methods:
Method 1: Amount Received. This is based on payments received by the university. The total would be reported in Box 1 .
Method 2: Amounts Billed. This is based on amounts billed by the university, regardless of when payment is received. The total would be reported in Box 2 .
Cal Poly Pomona uses Method 2, reporting amounts billed to the student's accounts.
What if I am a parent and I need access to my child's 1098-T?
By FERPA (Family Education Rights and Privacy Act of 1974), parents have rights to their children's education records but those rights transfer to the child when the child starts college OR reaches the age of 18. We are required to obtain written consent from the student.
The written consent must:
• Specify the records that may be disclosed (in this case, please specify the 1098-T Form),
• State the purpose of the disclosure (the student states why he or she wants someone else to receive the form), AND
• Clearly identify for whom the disclosure may be made. Please provide full names.
The consent can be sent electronically to cpp1098t@csupomona.edu or be mailed to
Edward Shore, Tax Specialist
California State Polytechnic University, Pomona
University Accounting Services
3801 W. Temple Ave. Bldg. 98 B1-113
Pomona, CA 91768
You can find out more information about FERPA by clicking on this link.
What are the educational tax benefits that the IRS offers?
Some of the tax benefits the IRS offers are:
Tuition and Fees Deduction
Up to $4,000 may be deducted from income for qualified expenses. The deduction is not available to nonresident aliens. IRS Form 8917 is required. Consult the IRS and the Form 8917 for more details.
Hope Credit
A student who has not completed the first two years of college (generally freshmen and sophomores) may take a credit up to $1,650 - and must been at least half-time for any 2007 quarter. If the student is a dependent, then the person claiming the student may claim the credit. On the 1098-T, Box 8 must be checked. IRS Form 8863 is required. The credit is not available to nonresident aliens. Consult the IRS and Form 8863 for more details.
Lifetime Learning Credit
A taxpayer may take up to $2,000 credit per tax return. The credit is available for all years of postsecondary education and courses to acquire or improve job skills. If the student is a dependent, then the person claiming the student may claim the credit. IRS Form 8863 is required. The credit is not available to nonresident aliens. Consult the IRS and Form 8863 for more details.
CAUTION: A student may take only ONE of the following: Tuition and Fees Deduction, Hope Credit, or Lifetime Learning Credit.
Only you and your tax consultant can determine if you are eligible for any of the above tax benefits. The University cannot advise you on your tax situation.
Is there a payment required when the 1098-T is received?
Absolutely not! The 1098-T is not a bill from the University.
Remember, the 1098-T is completed by the University; you do not complete the 1098-T.
Please email us at cpp1098t@csupomona.edu .
