Educational Tax Benefit Information

Each year St. Olaf provides you with an IRS Form 1098-T to document your enrollment and to summarize financial information. To receive an educational tax benefit (e.g., the American Opportunity Credit, The Lifetime Learning Credit, and the Tuition and Fees Deduction), you must account for and document the amount you paid for tuition and expense on IRS Form 8863 and submit it with your Federal Income Tax return. You DO NOT submit Form 1098-T with your tax return.

To calculate your tax credit/deduction, refer to your own records (tuition bills, receipts, etc.) and consult your tax advisor or IRS Publication 970 Tax Benefits for Higher Education. All current students can view previous St. Olaf statements online via the SIS (Student Information System). Keep Form 1098-T with your tax records. The benefits are subject to certain limitations and St. Olaf cannot determine if you qualify for one of these tax benefits or the amount of the benefit to which you may be entitled.

IRS regulations state that educational institutions may populate either Box 1 or Box 2. St.Olaf populates Box 2.

Need more information?

Consult your tax advisor or see IRS Publication 970 and IRS Form 8863 for more information. To obtain copies, call 1-800-TAX-FORM or go to http://www.irs.gov.

1098-T forms are available online. In order to view this document online you must go through the opt-in process, if you have not already done so. This is just a one-time process. By opting in you are agreeing to have your 1098-T delivered, in future years, via the web. You can find the instructions to for this process below. Electronic forms are available by the third week of January.

1098-T Instructions

Those who do not opt-in to the electronic version of the 1098-T will have the forms mailed to their permanent addresses at the end of January. If you need a copy or would like to receive this form electronically in the future, you can access the tax form website by going directly to https://nessie.stolaf.edu/login.aspx. In order to log in you will need your St. Olaf username and password.

The benefits of receiving this form electronically include reducing the amount of paper and postage needed to print and mail thousands of tax forms, receiving the forms faster than if they are printed and then mailed, and being able to log in at any time to view, save as a PDF, or print this document if needed.

If you are trying to view this document while off campus you will need to set up a VPN (Virtual Private Network) first. Instructions on how to set up a VPN are located at http://wp.stolaf.edu/it/vpn/. If you are on campus you can ignore this step.

A $15 fee will be charged for any paper reprints of the 1098T form. There is no fee to reprint the 1098T from from the website https://nessie.stolaf.edu/login.aspx . Students will need their St. Olaf username and password to log in here.