To Students:
The 1098-T must be sent to the students by January 31. The 1098-T for 2006 are now online at http://www.1098t.com.
Per IRS, the 1098-T form is given to each student except:
Attention Parents: If you need to obtain a form 1098-T for your child, your student will need to give the University permission by completing a Consent Form with Student Accounting & Cashiering Services before the University can give the information to you.
Per FERPA (Family education Rights and Privacy Act of 1974), the parents have rights to their child's education records but the rights transfer to the student when the child starts attending college OR reaches the age of 18. You can find more information regarding FERPA on http://www.dsa.csupomona.edu/registrar/ferpa.asp
For general questions, please call TCRS (877) 467-3821
The 1098-T forms are available online at http://www.1098t.com. Paper forms will be sent out by January 31, 2007.
There are two ways to access the form: by Social Security number/ITIN (Individual Taxpayer Identification Number) or Bronco ID.
Access by Social Security Number/ITIN
Access by Bronco ID
1. What is the 1098-T?
The IRS Form 1098-T for 2006 is provided to each student who enrolled in college courses during the period January 1 to December 31, 2006. Students can use the form to determine if any tax benefits for education are available. The 1098-T summarizes only qualified education expenses.
2. What are qualified educational expenses?
Qualified Educational Expenses include:
Cal Poly Pomona reports the following qualified educational expenses:
Room, board, travel, insurance, health fees, and research are not qualified tuition expenses as regulated by the IRS.
3. What are the educational tax benefits the IRS offers?
The main benefits are the Hope Credit, Lifetime Learning Credit, and Tuition and Fees Deduction. Other education benefits include the Coverdell Education Savings Accounts (ESA) and Qualified Tuition Programs (QTP). Please consult IRS Publication 970 (www.irs.gov) and your tax advisor for details.
4. How does Cal Poly Pomona report qualified educational expenses?
Universities are allowed, by the IRS, to report qualified educational expenses in two methods.
Method 1: Amounts Received. This is based on payments received by Cal Poly Pomona. The total would be reported in Box 1 .
Method 2: Amounts Billed. This is based on amounts billed by Cal Poly Pomona, regardless of when payment is received. The total would be reported in Box 2 .
Cal Poly Pomona uses Method 2, and that is why students will see an amount in Box 2.
5. What quarters are reported on the 2006 1098-T?
Since we file based on billing (see the last question above), for most students, the following quarters will be on the 1098-T form for 2006:
Spring 2006
Summer 2006
Fall 2006
Winter 2007 (amounts were billed for most students in November 2006),
6. Do I owe anything?
No, the 1098-T is not a bill from the University.
You may refer to IRS Publication 970 for details regarding the Hope and Lifetime Learning credits. Cal Poly Pomona personnel are unable to provide tax advice in any form.
http://www.irs.gov/pub/irs-pdf/f8863.pdf
Use IRS Form 8863 to claim the Hope and Lifetime Learning Credit.
Visit the IRS website: http://www.irs.gov
If you need to contact someone at California State Polytechnic University, Pomona, the person handling the 1098-T information is:
Edward Shore
909-869-2611
E-mail: ewshore@csupomona.edu (Please have your Bronco ID ready)