1098-T Information

To access your 1098T electronically please log into the following website using your St.Olaf username and password.

https://dss.stolaf.edu

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.  If you received more scholarships and/or grants than the amount of qualified tuition billed you will not receive a 1098-T.

 

How do I access my 1098-T?

All currently enrolled students will receive an email when the 1098-T is available with access instructions.  Students can view it at: https://dss.stolaf.edu.  Please note, you will need to disable your computer’s pop-up blocker to view the form.

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 all students.  Next year we are required to change our reporting methods and more information will be made available when that happens.

Why didn’t I get a 1098-T form?

There are several reasons why a 1098-T form may not be generated or received:

  • If you are classified as a Non Resident Alien in St. Olaf’s student record database.
  • If you didn’t provide us with your Social Security Number (SSN). If you provide your SSN to the Student Accounts Office they can send a 1098-T form to you.
  • If your 1098-T form was sent to an old or incorrect address. If you provide your current mailing address to the Registrar’s Office we can resend a 1098-T.
  • If Scholarships and/or grants received were greater than the amount of tuition billed.

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

Qualified tuition and related expenses refers to tuition charged in the calendar year.  Tuition waivers and remissions are considered reductions to qualified tuition and expenses.  You may have other educational expenses (Room, Board, Fees, Health Insurance) not reported on this form.

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.

Does any of the information on the 1098-T correlate to any amounts I can claim on my tax return?

Only amounts billed by the College are on the 1098-T form. Whenever a student (or parents) want to claim the tax credit for educational expenses or any other tax benefits relating to higher education – they must determine the amount of tuition actually paid – NOT BILLED. Furthermore, any related qualified expenses for the American Opportunity Tax Credit need to be determined from records kept by the taxpayer. The College does not track these type of expenses on the 1098-T.

Box #5 of the 1098-T constitutes scholarships which are considered to be taxable income to the extent Box #5 exceeds the actual amounts PAID for tuition, books, required course fees, and required equipment. The taxpayer will need to figure the correct amount from their own records.

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.

Opt Out of Electronic 1098-T

Beginning for tax year 2017,  all students with an active St. Olaf email, will receive an electronic 1098T.  If students wish to receive a paper 1098T, the must request it by submitting the Request for Withdrawal of Electronic Consent by December.  Students who no longer have an active St. Olaf email address will receive a paper 1098T to the address we have on file.