Questions you may have about your 1098-T
Why didn't I receive a 1098-T?
- We provide a 1098-T to all students who are US citizens or permanent residents if they have qualifying transactions within the tax year and if we have a current mailing address on file.
- Statements are not provided for international students who are non-resident aliens since these individuals are not eligible to apply for federal education tax credits.
- Only payment activity for qualified educational expenses within the tax year are reported on the 1098-T. A statement will not be issued if there are no qualifying transactions. For example, if tuition and fees for last spring were charged and paid for this past December and no subsequent activity occurred in the tax year, a 1098-T will not be issued.
- We are unable to generate a 1098-T statement without a valid mailing address. If you believe you should have received a 1098-T based on the information above, but you have not maintained current contact information since leaving UVM, this is likely why you did not receive a 1098-T. Please email us with a current address and request that we provide a 1098-T for the appropriate tax year.
The numbers on my 1098-T don't match my records, can I get a revised 1098-T from UVM?
No. The amounts we have reported on your 1098-T comply with IRS regulations for reporting by a higher education institution. However, these guidelines don't typically allow tax filers to directly transfer the numbers to your tax return forms. You will need to rely on your own records, and possibly the advice of a qualified tax professional, to determine how to complete your individual tax return.
My 1098-T has $0 in all of the boxes. How come you sent me a blank form?
IRS rules specify that a tax payer must receive a 1098-T in order to apply for federal education tax credits. UVM issues 1098-T's to all students that appear to have any potentially qualifying transactions. You should research on your own and consult with a qualified tax professional to determine how to complete your individual tax form.
You reported me to the IRS? Does this mean I am being taxed?
No. The purpose of the 1098-T is to assist you in determining your eligibility for education tax benefits. Students may be responsible for payment of taxes on scholarship income in some instances, but the 1098-T should not be relied upon to determine such obligations. You should research IRS rules or consult with a tax professional to determine any tax liability you may have.
I used a Nelnet Campus Commerce payment plan to pay my bill. How are my Nelnet Campus Commerce payments reported on my 1098-T?
UVM posts a credit to the student's account for the full amount of the semester's Nelnet Campus Commerce plan when you establish your plan. For 1098-T reporting purposes, the Nelnet Campus Commerce credit will be included as a payment as of the date that the credit is posted to the student account.
How are pandemic-related emergency financial aid grants reported?
Emergency financial aid grants awarded because of an event related to the COVID-19 pandemic are not included in a student's gross income (and are not taxable). Students should not reduce an amount of qualified tuition and related expenses by the amount awarded in the emergency financial aid grant. If students used any portion of the grant to pay for qualified tuition and related expenses in 2020, they may be eligible to claim a tuition and fees deduction or the American opportunity Credit or Lifetime Learning Credit on their 2020 tax return. Learn more from the IRS about the reporting of emergency financial aid grants.