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OSU is required annually to furnish a Form 1098-T, Tuition Statement, which reports qualified tuition and related expenses associated with enrollment at OSU.This form is intended to assist with federal income tax return preparations. The amountpaidup to the tuition and qualified fees amount is reported in Box 1. The Box 1 amount paid includes not only personal payments, but loans, scholarships, waivers, and third party contract payments. Your scholarships, including those sent from third-parties, and grants administered by the University, are reported in Box 5. We generate 1098-Ts by the end of January of each year.
What is a 1098-T and why do I need one?
This form is intended to assist you or your parents in the preparation of yourfederal income tax return. The University sends them out to assist you in preparing your taxes and reports the information to the Internal Revenue Service. Your accountant, tax preparer, or the Internal Revenue Service (http://www.irs.gov/) can best advise you in the utilization of this form when preparing your taxes.
What is a Form W-9s?
OSUIT is required annually to furnish you with a Form 1098-T, Tuition Statement, which reports qualified tuition and related expenses associated with your enrollment at OSUIT. In order for us to prepare the forms accurately, Federal law requires you to furnish us with your correct taxpayer identification number (TIN). Generally, this number will be your Social Security Number (SSN) or, if you are not eligible to obtain an SSN, you must obtain from the Internal Revenue Service (IRS) an individual taxpayer identification number (ITIN) and provide that number to us. The information reported on Form 1098-T will assist you in determining whether you, or the person who can claim you as a dependent, may take either the tuition and fees deduction or claim an education credit to reduce federal income tax. For more information, consult the Tax Benefits for Education section of the IRS website.
Print the Form W-9S from this link to provide your correct SSN or TIN. Failure to furnish a correct TIN may result in the IRS assessing you a $50 penalty. Return the Form W-9S in person to ouroffice located in the Grady Clack Building.
When will my 1098-T be mailed to me?
Oklahoma State University Institute of Technology generates thousands of 1098-T forms each year. Each form must be postmarked (if mailed) by January 31. You could receive yours prior to the deadline.
Where can I find my 1098-T online?
Log intomy.okstate.edu. Click on the Bursar icon located in the middle of the page. Your 1098T statement is located on the welcome screen just below Statements.
Why can't I view my 1098T?
Viewing electronically requires Adobe Reader. The PDF file is not viewable in other PDF readers, including Apple Preview.View/Printing your 1098T guidelines.
If I did not provide electronic consent, what address will my 1098-T be mailed to?
It will be mailed to your address listed inStudent Self Serviceunder Personal Information. The “Billing” address is our first choice. If that is not available, we send to the “Permanent” address and then “Local” address.
Can you fax a copy of my 1098-T to my accountant?
The fastest way to obtain your 1098-T information is to log intomy.okstate.edu. Click on the Bursar icon located in the middle of the page. Your 1098T statement is located on the welcome screen just below Statements and you can print a copy for you to fax to your accountant.
What information will be provided on my 1098-T?
The amountpaidup to the tuition and qualified fees amount is reported in Box 1 for the tax year. The Box 1 amount paid includes not only personal payments, but loans, scholarships, waivers, and third party contract payments. Your scholarships, including those sent from third-parties, and grants administered by the University are reported in Box 5. The 1098T also indicates graduate student classification and half-time or greater enrollment.
Where is the total for my tuition and fees coming from in Box 1?
In previous years, your 1098-T included an amount in Box 2 that represented the qualified tuition and related expenses (QTRE) we billed to your bursar account for the calendar (tax) year. Due to a change to institutional reporting requirements under federal law, beginning with tax year 2018, we will report in Box 1 the amount of QTRE you paid during the year up to the amount QTRE. There are four fees NOT allowable by IRS regulations; therefore, NOT included in the calculation: Activity Fee- Athletic, Transportation Fee, O’Colly Fee, and Health Service Fee. They do not meet the tax code requirements for educational expenses. Per NACUBO (National Association of College and University Business Officers) guidelines, tuition waivers reduce the amount of QTRE. Consult your accountant, tax preparer, or the Internal Revenue Service (http://www.irs.gov/) for more information.
I am looking at my 1098-T and I don’t see what I spent on books.
The information on this form is what is required by OSUIT to report to the Internal Revenue Service. We do not report your expenditures on books. You may want to speak with your accountant, tax preparer, or theInternal Revenue Serviceabout your book expenditures and how they relate to your tax preparation.
I’m a parent. Can I have my student’s 1098-T form sent to me?
Students may authorize users to view the form. Students log intomy.okstate.edu, click on the Bursar icon located in the middle of the page. Click on the Authorized User tab on the right side of the page. Enter the authorized user email address and click Yes to the questions listed. The authorized user receives two emails; the first is an email acknowledging the authorized user; the second email is the temporary password. Once both emails are received, the authorized user must go online to the bursar website and click on the authorized user link to access. The 1098T statement is located on the eBills screen just below 1098-T Tax Statement.
If you are not an authorized user, the student is responsible for providing information to other parties in accordance withFERPA (Family Education Right to Privacy Act).
I did not receive (lost) my 1098-T form. Where can I get another one?
Online through Student Self Service by logging intomy.okstate.edu. Click on the Bursar icon located in the middle of the page. Your 1098T statement is located on the welcome screen just below Statements.
How is the information on my 1098-T form useful to me?
It provides you and your tax preparer with information on amounts which may reduce your tax liability.
How does this affect my taxes?
Consult your accountant, tax preparer, orInternal Revenue Serviceon which amounts you can include for tax purposes.
How much can I deduct from my taxes?
Consult your accountant, tax preparer, or theInternal Revenue Servicefor that information
Where on my tax form do I put this information?
You may obtain information from your accountant, tax preparer, orInternal Revenue Serviceabout the Hope Credit and Lifetime Learning Credit for higher education expenses.
Where can I find a record of the payments I made?
Your monthly billing statements contain payments made and are available on-line. You may access your billing statements by logging intomy.okstate.edu. Once logged in, click on the Bursar icon located in the middle of the page. Click on view statements located in the middle of the page. A drop down menu will appear allowing you to select statements for each month. Dependent upon when you made your payments, you may have to view several statements.
