1098-T Frequently Asked Questions

Why did I receive a 1098-T form?
As required by the Internal Revenue Service (IRS), Form 1098-T is provided by Jan. 31 to all applicable students; who have provided St. Olaf College with their Social Security or Individual Tax ID Number and, who had qualified tuition and other related educational expenses billed to them during the previous calendar year.
 

How do I access my 1098-T?
Students must opt in to receive their 1098-T electronically.  If you have not already done so, log on to https://nessie.stolaf.edu/login.aspx and select ‘authorization required’ under 1098-T.

For students that are accessing the form on campus, that have opted in to receive the 1098-T form electronically it can be accessed at: https://nessie.stolaf.edu/login.aspx.

For students that are accessing the form 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 https://wp.stolaf.edu/it/vpn/.

You may need to disable pop-up blocker.  If you have additional troubles, please contact IT.

 

As a parent, can I access the 1098-T?

No, a student must be the person accessing the form or requesting the form if a duplicate form is necessary.

 

Why isn’t there an amount in Box 1?

The IRS instructs institutions to report either payments received (Box 1) or amounts billed for qualified tuition and related expenses (Box 2) on the 1098-T.  St. Olaf College currently reports qualified tuition and related expenses that were billed during the tax year (Box 2); therefore, Box 1 – Payments Received for Qualified Tuition and Related Expenses will be blank.

 

For purposes of Box 2, what educational expenses are considered as qualified tuition and related expenses?

Qualified tuition and related expenses refer to tuition and required fees, such as segregated fees and lab fees, a student must pay to be enrolled at or attend an eligible education institution.  Tuition waivers and remissions are considered reductions to qualified tuition and expenses.

 

Am I eligible to receive a tax credit?

The 1098-T form is informational only and should not be considered as tax advice. It serves to alert students that they may be eligible for federal income tax education credits such as the Lifetime Learning Credit and the Hope Credit as part of their Federal Income Tax Return.

 

Does the 1098-T contain all the information I need?

While it is a good starting point, the 1098-T, as designed and regulated by the IRS, does not contain all of the information needed to claim a tax credit. To determine the amount of qualified tuition and fees paid, and the amount of scholarships and grants received, a taxpayer should use their own financial records. There is no IRS requirement that you must claim the tuition and fees deduction or an education credit. Claiming education tax benefits is a voluntary decision for those who may qualify.

 

Will St. Olaf College employees be able to assist me with tax preparation questions regarding the 1098-T form?

St. Olaf College employees can help answer questions on the number(s) in box 2 and box 5 but cannot provide tax information.  Please consult a tax professional with questions regarding filing your taxes and incorporating the 1098-T form. More information is available on the IRS website.