IRS Form 1098‐T Tuition Statement Information
The IRS Form 1098‐T is an informational return that the Bloomberg School is required to issue for the purpose of determining a student’s eligibility for an education credit or tuition and fees deduction. Refer to IRS publication 970 and Tax Benefits for Education: Information Center for further information regarding the 1098‐T, or consult your tax advisor.
School staff cannot answer tax questions or advise you concerning tax related issues.
1. Who is required to be issued an IRS Form 1098‐T?
The School must file a 1098‐T form for each enrolled student for whom a reportable transaction was made during the calendar year January 1 to December 31. A reportable transaction is defined as payment for qualified tuition and related expenses required for a student to be enrolled at or attend an eligible educational institution and any scholarships or grants administered and processed for payment of the student’s cost of attendance.
2. Who is NOT required to be issued the IRS Form 1098‐T?
- Students enrolled in courses for which no academic credit is offered, even if the student is otherwise enrolled in a degree program.
- Non-resident alien students.
- Students whose qualified tuition and related expenses are entirely waived or paid entirely with scholarships and/or other formal billing arrangement between an institution and the student’s employer, government entity, such as the Department of Veterans Affairs or the Department of Defense.
- If you do not have a valid social security number and are not a non-resident alien student, a notification was sent to you through email notifying you that you needed to update your social security number. To update the social security number, please provide the necessary documentation to the Registrar's Office by December 15.
3. Does the School report my payments?
The Bloomberg School reports qualified payments received in Box 1 of the 1098‐T form. The School reports payment amounts for qualified tuition and related expenses during the calendar year January 1 through December 31. To get a summary of your charges and payments by term, you can view and print your account activity in SIS. Please look closely at the dates of activity.
4. How does a student receive IRS Form 1098‐T from the Bloomberg School?
- Your 1098-T form will be mailed for the appropriate tax year. You can also access the form electronically by logging into your self-service account at SIS.
- If you would like to access/receive your 1098-T form electronically, please click the consent button at the bottom of the page once you have been redirected to the 1098-T site.
5. I have a general question about my 1098‐T form. Who can I call for help?
6. Former Students
Students no longer attending the School who require a copy of their 1098-T form will need to submit a SEAM Online Form which should include a written request for information and a copy of a government-issued picture ID.
7. I attended Winter Intersession/Term 3, so why did I not get a 1098-T form this year?
If you attended in the Winter Intersession/Term 3 last year, you will need to refer to your SIS account when determining your tax credit. Students are billed for the above terms as early as October in the preceding year. Depending on the date of enrollment, the charges and/or payments may have been incurred in the previous year.