Contents
Cal Poly Pomona

1098-T

INTRODUCTION AND QUESTIONS

What is the Form 1098-T?

Form 1098-T is an annual IRS form completed by Cal Poly Pomona and sent to students to assist them in the preparation of their annual income tax returns. It summarizes qualified tuition and related expenses for the calendar year starting from January 1 to December 31. The form reports the amounts billed that may entitle the student to the Hope Credit, Lifetime Learning Credit, or Tuition Deduction, depending on their individual situation (see detail below). A form 1098-T is not required for the student to take this credit, if he/she is eligible for the credit.

Cal Poly Pomona needs the student's social security number for 1098-T IRS reporting (see details below).

Universities are allowed by IRS regulations to elect the method of reporting:

Method 1 : Amounts Received. This is based on payments received and are reported in Box 1. Cal Poly Pomona did NOT elect this method, therefore, Box 1 will be zero or blank.

Method 2 : Amounts Billed, regardless of when payments are received. Cal Poly Pomona elected this option. The amounts are reported in Box 2.

When will the students get the tax form?

In compliance with IRS rules, Cal Poly Pomona will mail the forms to the eligible students by January 31.

After January 31, you can access your 1098-T online.

To print your 1098-T from BroncoDirect, follow the following instructions:

  1. Log onto BroncoDirect
  2. Under Student Accounts in the Main Menu, select 1098 Detail Inquiry
  3. Enter "2007" for Calendar Year. 2007 is the only year available under BroncoDirect. Click on the Search button.
  4. To print the form, just right click on the form and select Print.

What are qualified education expenses?

  • Tuition and fees required to enroll at Cal Poly Pomona
  • Books and supplies required for course instruction. These expenses must be paid as a condition of enrollment.

Some of the qualified education expenses include:

  • ASI (Associated Students Incorporated) Athletic Fee
  • ASI Fee
  • IRA (Instructionally Related Activities) Fee
  • SUF (Student University fee)
  • Student Union Fee (Bronco Student Center)

What expenses are NOT qualified for 1098-T reporting:

  • Room and board
  • Travel
  • Insurance
  • Health Fees
  • Research

Why did I not receive a 1098-T?

The most common reasons for not receiving a 1098-T are:

1. Cal Poly Pomona does not have your social security number. This information is required for 1098-T reporting (make sure that you provide us the information);

2. Cal Poly Pomona does not have your valid address.

3. The student's qualified tuition and related expenses are entirely waived;

4. The student's qualified tuition and related expenses were paid entirely with grants and scholarships (financial aid).

Cal Poly Pomona is not required to furnish a 1098-T for the following:

  • Students who take classes where no academic credit is offered, even if the student is otherwise enrolled in a degree program;
  • Non-resident aliens, unless requested by the student;
  • Students whose qualified tuition and related expenses are entirely waived or paid entirely with grants and scholarships;
  • Students for whom Cal Poly Pomona does not maintain separate financial account information and whose qualified tuition and related expenses are covered by a formal billing arrangement between the University and either the student's employer or a governmental entity, such as the Department of Veteran Affairs or the Department of Defense.

Scholarships and Grants on the 1098-T

Scholarships, grants, and waivers processed throughout the University are reported in Box 5 on the 1098-T. Loans are not reported on the 1098-T because they are considered payments since the student will pay the loan back.

How do I furnish Cal Poly Pomona with my social security number?

Please complete IRS Form W9S and submit it to University Accounting Services in Building 98 B1-113, attention: Edward Shore.

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 non-resident 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 have 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 non-resident 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 non-resident 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.

Questions?

Please email us at cpp1098t@csupomona.edu .

Regarding tax information,

You can also call the IRS at 1-800-829-1040, Monday-Friday, 7:00 AM - 10:00 PM or visit the web site at www.irs.gov .

 

Please e-mail kmharper@csupomona.edu with any comments or questions.