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PLEASE READ THIS NOTICE!

 

It is important to emphasize that the purpose of the 1098-T is to support any claim for education credit. The amount reported in Box 1 is for informational purposes and might be different than the amount you actually paid and are deemed to have paid. To learn more, see IRS Publication 970 – Tax Benefits for Education.

Frequently asked questions:

What is reported in Box 1?

Payments applied to your account during 2020 that total up to your Qualified Tuition and Related Expenses for the tax year. They include:

  • Regular payments
  • Payments from 3rd parties such as the Veterans Administration and Child and Family Services
  • Student loans
  • Grants and scholarships
  • Tuition and fee waiver benefits

Any refunds you received or any payments made that were returned due to insufficient funds are deducted from these total payments.

What is not reported in Box 1?

  • Housing Deposits
  • Scholarships/grants earmarked for charges other than Qualified Tuition and Related Expenses such as housing, meals or books.

What are my Qualified Tuition and Related Expenses?

Mandatory tuition and fee charges that posted during the 2020 tax year for Winter session 2020 through Spring session 2021. If your Winter session 2020 or Spring session 2020 charges posted in tax year 2019, they were reported in 2019 and are NOT included in 2020. Charges for housing or meals are NOT included.

My records indicate I made more payments in 2020 than what is appearing in Box 1. Why?

Payments recorded in Box 1 cannot exceed the total qualified charges reported in 2020. Payments made for Fall Term 2019 or earlier are not reported.

What is reported in Box 5?

Box 5 includes the following:

  • Grants and scholarships
  • Payments from 3rd parties such as the Veterans Administration and Child and Family Services
  • Tuition and fee waiver benefits

Can I review the detail behind the amounts reported on the 1098-T form including the Qualified Tuition and Related Expenses?

Students can view the detail behind these amounts from their E-Web account. To access the information students should:

Log into the E-Web account
Choose Student Services
Choose Student Account
Choose Tax Notification
Type in the tax year for which the 1098-T is requested and click submit

Please note Eastern Connecticut State University employees are not tax professionals and do not provide tax advice. We can provide you with information about your account which you may need to determine your eligibility for tax benefits. Any questions about your eligibility should be directed to the IRS or a tax professional.