Tax Reporting IRS Form 1098-T

Purpose: Eligible educational institutions file Form 1098-T for each student they enroll and for whom a reportable transaction is made.

Source: IRS, University Policy

Applicability: Eligible educational institutions file Form 1098-T for each student they enroll and for whom a reportable transaction is made.

Policy:

NAU files a 1098-T form for each student who has paid qualified tuition and related expenses (QTRE) in that calendar year to NAU, while enrolled in a course(s) for which academic credit is earned.

Programs or courses in which credit is not offered, or credit is not earned at the time of completion, will not result in a 1098-T being furnished for any associated payments.

To furnish a fully accurate 1098-T, NAU will request a TIN for any enrolled students, using the W-9s form.
Any student who does not provide a TIN to the university by December 31^st of the calendar year, will have their 1098-T furnished without this information.

Information reported on the form:

• Student’s Provided Name
• Student’s Mailing Address
• Truncated TIN
• Student’s NAU ID Number
• Box 1 – Payments Received For Qualified Tuition And Related Expenses, Less Any Waivers Posted To QTRE
• Box 4 – Adjustments Made To A Prior Reported Year
• Box 5 – Scholarships And Grants Disbursed To A Student’s Account, Whether Applied Towards QTRE, Refunded, Paying Other University Expenses, Or Unapplied
• Box 6 – Adjustments Made To Scholarships Or Grants Reported In A Prior Year
• Box 7 – Indicates If Any Amounts Reported In Box 1 Are For A Term Beginning In The Next Calendar Year
• Box 8 – Indicates If A Student Was Enrolled At Least Half Time In Any Term, As Defined By NAU
• Box 9 – Indicates If A Student Was A Graduate Student At Any Time In The Calendar Year

IRS Definitions:

Qualified tuition and related expenses.

Qualified tuition and related expenses are tuition, fees, and course materials required for a student to be enrolled at or attend an eligible educational institution.

The following are not qualified tuition and related expenses.

• Amounts paid for any course or other education involving sports, games, or hobbies, unless the course or other education is part of the student’s degree program or is taken to acquire or improve job skills.
• Charges and fees for room, board, insurance, medical expenses (including student health fees), transportation, and similar personal, living, or family expenses.

Academic credit.

Academic credit is credit awarded by an eligible educational institution for the completion of course work leading to a postsecondary degree, certificate, or other recognized postsecondary educational credential.

If a student provides their consent their 1098-T will be provided to them only in an electronic version. If a student has not provided, or has revoked their consent, a 1098-T will be mailed to their mailing address on file as of the time of the mailing.

All 1098-Ts, will be made available electronically to students no later than January 31^st. If mailed, the item will be post marked no later than January 31^st.

Assistance:

For additional assistance with 1098-T tax form please contact Student & Departmental Account Services.

email: TaxCredit1098T@nau.edu
phone: 928-523-9485

Additional information found on our website.