Tax Information: 1098-T
The 1098-T tax form is a statement of qualified tuition and fees paid to Portland State University. It is provided to the student for tax purposes as well as reported and filed with the Internal Revenue Service (IRS). Qualified tuition and related expenses are defined by the IRS as tuition and fees a student must pay to be enrolled at or attend an eligible educational institution. As an eligible educational institution, PSU is required by law to provide 1098-T Tuition Statements to students who were enrolled and paid for courses at PSU during the calendar year. The 1098-T tax form contains the dollar amount of payments, scholarships, or grants applied to the student by PSU during the calendar year.
1098-T Tuition Statements will be available online by January 31 of each year.
Access Your 1098-T
Students must have a social security number (SSN) and an active address in our student system in order for a 1098-T form to be produced. If we do not have your social security number, we will send you a paper letter in the mail requesting your social security number in December. Return the W9-S with the first part completed and signed. Include your PSU Student ID number at the top of the form. We are mandated by the IRS to request the social security number (SSN) for any student that will receive a 1098-T form if we have it on file already. For tax filing purposes your SSN is your Tax Identification Number (TIN). Per the IRS, failure to provide this information subjects you to a $50 penalty. If we do not get your SSN by March 15, we will send your information to the IRS without it.
If you are a Senior Adult Learner or high school student and you paid a course fee, you qualify for a tax credit. If you want to claim the credit, return the W9-S form so we can provide your SSN on the form to the IRS.
To access and print the 1098-T form, follow the instructions:
- Go to Banweb and log in to your PSU student account.
- Navigate to the Student Finance tab.
- Select Access 1098-T Tax Notification.
Portland State University does not provide tax filing services, employees cannot offer tax advice.
1098-T Information Reported
As of 2018 tax year, federal law requires that universities must report payments received for qualified tuition and related expenses. We also report any scholarships/grants you received (free money not required to be paid back) on the 1098-T form (Box 5). We will now report out-of-pocket payments received (Box 1) on the 1098-T form, and not charges billed (Box 2). This includes cash, check, credit card, and loan payments. Third party payments are reported in Box 1 and Box 5. According to the IRS scholarships and grants generally include all payments received from third parties.
The following is an explanation of the information PSU reports:
- Box 1. Payments Received for Qualified Tuition and Related Expenses: This box includes payments received for qualified tuition and related expenses as defined by the IRS.
- Box 2. Amounts Billed for Qualified Tuition and Related Expenses: This box will remain blank.
- Box 4. Adjustments Made for a Prior Year: This box is used to report reductions in qualified payments posted to your account during the current tax year but reported in full on a previous tax year. (For the 2018 tax year, this box will remain blank due to the change in the reporting method.)
- Box 5. Scholarships or Grants: This box reports the amount of scholarships or grants posted to your account during the calendar year.
- Box 6. Adjustments to Scholarships or Grants for a Prior Year: This box is used to report reductions to scholarships or grants posted to your account during the current tax year but reported in full on a previous tax year.
- Box 7. Checkbox for Amounts for an Academic Period Beginning in January through March of 2_ _ _ (the following calendar year): This box will be checked if qualified tuition and related expenses are paid in one year, but the academic period begins January through March of the following year. Example: Winter term charges are paid in December but classes begin in January.
- Box 8. Check if at Least Half-Time Student: This box will be checked if the student was at least a half-time student during any academic period during the calendar year.
- Box 9. Check if a Graduate Student: This box will be checked if the student was a graduate student, if the student was enrolled in a program or programs leading to a graduate-level degree, if the student was pursuing a graduate level certificate, or if other recognized graduate level educational credentials were recorded.
Charges Not Reportable on a 1098-T
According to the IRS the following charges are not qualified as 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.