1098-T Information
What is a 1098-T?
The 1098-T form reports the amount billed to you by Embry-Riddle over the course of the previous calendar year. The purpose of the 1098-T is to help you and/or your tax professional determine if you are eligible for the American Opportunity Credit or the Lifetime Learning Credit. The 1098-T is solely informational; you are not required to attach IRS Form 1098-T to your tax return.
When can I expect my 1098-T?
If you are eligible to receive a 1098-T tax statement, it will be mailed to you by January 31st. This statement contains enrollment information and satisfies federal reporting requirements. A copy will be forwarded to the IRS.
How will I receive my 1098-T?
If you elected to receive your 1098-T electronically, you will be notified via e-mail as soon as it is available (at the e-mail address you provided at sign up). If you do not wish to receive the 1098-T tax statement electronically, it will be mailed — as required — by January 31st.
- Sign up to receive your 1098-T electronically
- Access your 1098-T online
- (You will need to enter our school code: Q8, your SSN and your ECSI assigned pin)
How to read a 1098-T
The Service Provider/Act. No. box in the lower left corner of the 1098-T form provides the Embry-Riddle student identification number.
Box 1: Payments received for qualified tuition and related expenses
This box will be left blank on all Embry-Riddle 1098-T forms. Universities may choose whether to report payments received or amounts billed on student accounts; they are not required to report both amounts. Embry-Riddle has chosen to report qualified tuition and related expense amounts billed.
Box 2: Amounts billed for qualified tuition and related expenses
This box will contain the sum of all tuition, course fees and activity fees billed to a student’s account during a calendar year, less any amounts by which tuition was reduced due to a reduction in course load or withdrawal. Decreases in amounts due on a student’s account due to scholarship payments, student payments or other payments are not included in the Box 2 amount.
Amounts billed to a student account for housing, meals, books, insurance, parking and other miscellaneous non required fees will not be included in Box 2.
Box 3: This box will be left blank, since Embry-Riddle has not changed its current reporting method from the previous year.
Box 4: Adjustments made for a prior year
The amount in this box will be the sum of all reductions in tuition (refunded or not) related to amounts billed in a prior year. This amount is reported as a positive number per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 5: Scholarships or grants
This box contains the sum of all scholarships processed for the student’s account during the calendar year. Scholarships which pay for tuition (qualified scholarships) as well as for housing, books and other expenses (non-qualified scholarships) will be included in this amount.
Box 6: Adjustments to scholarships or grants for a prior year
Decreases or refunds of scholarship amounts related to scholarships reported in a previous year are included in this box. This amount is reported as a positive number per IRS requirements. However, it is actually a decrease to the amount that was reported on a prior year 1098-T.
Box 7:
This box will be checked if the amount reported in Box 2 includes tuition or qualified amounts billed to a student account in the current year which pay for a semester beginning in the next calendar year. For example, tuition billed in December 2009 for Spring 2010 will be reported on a 2009 1098-T. Box 7 will be checked to indicate this is the case.
Box 8:
A check in this box indicates you are or have been enrolled at Embry-Riddle at least half-time for at least one semester during the calendar year.
Box 9:
This box will be checked if you are a student enrolled in a program leading to a graduate-level degree.
Box 10:
This box is not used by Embry-Riddle, so it will be blank.
It is your responsibility to report third party payments on your tax return, if your tuition was paid in full by a third party sponsor including but not limited to
- military assistance
- employee benefit waiver or
- employee assistance programs
If you have any questions on whether you qualify for one of the tax relief opportunities, you may need to consult a tax professional. Unfortunately, the University is prohibited from offering any tax advice. The student should not refer to the University for explanations relating to the eligibility requirements for- and/or calculation of- any allowable education tax credit or tuition and fees deduction. The final decision for determining eligible educational expenses is the student's responsibility. There are many sources of related information from the IRS which students may find helpful in determining eligibility and preparing their tax return. Below are IRS links which you may find helpful in preparing your taxes:
For further explanation or to determine if you are eligible to claim either of these tax credits, please contact your tax preparer or the IRS at 202-622-2970.
